materiality ?

Pjdav
Pjdav Registered Posts: 27
in AAT student discussion
Does this mean when something in significant in the financial statements they can't miss it out ?

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  • hal978
    hal978 Registered Posts: 193 Dedicated contributor 🦉
    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

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