Report a Materiality

by Jill
(Wausau, WI, USA)

Where is a materiality reported?

Hi Jill,

I'm going to give you a link on my site where I talk about the concept of materiality.

The Materiality Principle

If that doesn't answer your question ... or you were after something else ... then reply back using the link at the bottom of this page which says Click here to add your own comments.

Comments for Report a Materiality

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Feb 10, 2010

Full Disclosure Principle
by: Lake, Bookkeeping Essentials

Jill,

I got to thinking more about what your were asking. I think I should have also mentioned another accounting principle to you ...

The Full Disclosure Principle

The above link explains that "if the issue or item does not directly affect the financial statement, such as a pending law suit, it is to be disclosed in the notes."

I hope this post helps to answer your question more clearly.

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