materiality ?

PjdavPjdav Registered Posts: 10
Does this mean when something in significant in the financial statements they can't miss it out ?


  • hal978hal978 Registered Posts: 10
    In simple terms yes, but the correct definition is: information is material if omission or misstatement could influence the decisions that users make on the basis of financial information about a specific reporting entity
    Level 4 AQ2013 FSTM (Financial Statements) - Competent - June 2017
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