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


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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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