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IFRS and GAAP require real-time consistency? Because that's what I meant with edge cases, entries that are split between two accounting periods. You deal with t
by babebridou 14y ago
IFRS and GAAP require real-time consistency? Because that's what I meant with edge cases, entries that are split between two accounting periods. You deal with them in eventually consistent systems just as you would in an ACID system: wait and interpret it when the data is complete.
- jacques_chester 14y agoTransactions that span two periods basically don't exist in accounting. It's assigned to either side, or you do two different transactions. One way or another, the goal is to ensure that you don't have uncertainty. Ever dealt with a company that's "closing the books?"