materiality ?

Does this mean when something in significant in the financial statements they can't miss it out ?


  • hal978hal978 LondonPosts: 23Registered
    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:
    Financial Statements - Competent - June 2017
    Budgeting - Competent - July 2017
    Financial Performance - Competent - September 2017
    Personal Tax - Competent - November 2017
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