materiality


materiality
The extent to which an item of accounting information is material. Information is considered material if its omission from or misstatement in a financial statement could influence the decision making of its users. Materiality is therefore not an absolute concept but is dependent on the size and nature of an item and the particular circumstances in which it arises.

Accounting dictionary. 2014.

Look at other dictionaries:

  • Materiality — can refer to distinct concepts in different professions and areas of study: Materiality (auditing) Materiality (architecture) Materiality (law) Materiality (digital text) This disambiguation page lists articles associated with the same title. If… …   Wikipedia

  • Materiality — Ma*te ri*al i*ty, n. [Cf. F. mat[ e]rialit[ e].] [1913 Webster] 1. The quality or state of being material; material existence; corporeity. [1913 Webster] 2. Importance; as, the materiality of facts. [1913 Webster] …   The Collaborative International Dictionary of English

  • materiality — I (consequence) noun caliber, distinction, eminence, gravity, greatness, import, importance, magnitude, materialness, matter, memorability, momentousness, notability, notableness, priority, prominence, purport, rank, relevance, salience,… …   Law dictionary

  • materiality — 1520s, that which is the matter of something, from Mod.L. materialitas, from materialis (see MATERIAL (Cf. material) (adj.)). From 1560s as quality of being material; 1640s as quality of being important to matters at hand …   Etymology dictionary

  • materiality — [mə tir΄ē al′ə tē] n. [ML materialitas] 1. the state or quality of being material, or physical 2. matter; substance 3. pl. materialities something material …   English World dictionary

  • materiality — The importance and relevance of an item in an auditing context. The concept of materiality permeates auditing processes, and it has been described as multidimensional (Lee, 1994, 178): It affects *audit planning, the selection of *audit evidence …   Auditor's dictionary

  • MATERIALITY — (Roget s Thesaurus) < N PARAG:MATERIALITY >N GRP: N 1 Sgm: N 1 materiality materiality materialness Sgm: N 1 corporeity corporeity corporality Sgm: N 1 substantiality substantiality substantialness flesh and blood plenum Sgm: N 1 physical… …   English dictionary for students

  • materiality — The importance of an event or information in influencing a company s stock price. companies must report any material events within one month by filing SEC form 8 K. Bloomberg Financial Dictionary * * * materiality UK US /məˌtɪəriˈæləti/ noun [U]… …   Financial and business terms

  • Materiality — Principle of Materiality, Grundsatz der Wesentlichkeit; angloamerikanisches Prinzip der Rechnungslegung. Besagt, dass bei der Aufstellung eines Jahresabschlusses alle Tatbestände berücksichtigt und offen gelegt werden müssen, die „material“… …   Lexikon der Economics

  • materiality — The extent to which an item of accounting information is material. Information is considered material if its omission from a financial statement could influence the decision making of its users. Materiality is therefore not an absolute concept… …   Big dictionary of business and management


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