Materiality

/Materiality

Materiality

Materiality: Defines the level to which certain accounting principles do not apply

  • Rounding on financial statements to the nearest dollar, or in some cases to the nearest million dollars, may not be material, depending on the size of the company
  • Immaterial may refer to items that may violate an accounting principle but not change the overall interpretation by the end user

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By | 2018-01-22T10:23:58+00:00 August 13th, 2015|0 Comments

About the Author:

John Gillingham is a CPA and Accounting App Developer in San Francisco, California. Check the iOS App Store for Accounting Flashcards and the Debits & Credits Game. On Android: Learn Accounting Flashcards. Also on Kindle and iBooks.

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