The Rule of Completeness

The Rule of Completeness is an accounting principle that requires all financial transactions and information relevant to creating accurate financial reports to be fully captured and recorded. This means no important detail or transaction should be omitted, ensuring the financial statements present a full and truthful picture of an organization's financial position. By following this rule, accountants help maintain transparency and trustworthiness in financial reporting, enabling users—like management, investors, or regulators—to make informed decisions based on complete data.