Explain the term materiality as it is used in accounting.
Question:
Explain the term ‘materiality’ as it is used in accounting.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
In accounting the term materiality refers to the concept of significance or importance of information Materiality is a fundamental principle used to g...View the full answer
Answered By
ROXAN VEGA
I have extensive hands-on experience and proficiency in assisting students in various subjects. During my tutoring sessions, I prioritize creating a supportive and engaging learning environment. I strive to understand each student's unique learning style and tailor my teaching methods accordingly. I am patient, empathetic, and skilled at breaking down complex concepts into simpler, more manageable parts. I encourage active participation and discussion, promoting critical thinking and problem-solving skills.
One of my strengths as a tutor is my ability to adapt to different learning needs and styles. I can explain difficult concepts using real-life examples, visual aids, or interactive exercises, depending on what works best for the student. I also provide clear explanations, answer questions, and offer guidance in a clear and concise manner.
0.00
0 Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
Question Posted:
Students also viewed these Business questions
-
Define the meaning of the term materiality as it is used in accounting and auditing. What is the relationship between materiality and the phrase obtain reasonable assurance used in the auditor's...
-
Define materiality as it is used in accounting and auditing. What is the relationship between materiality and the phrase "obtain reasonable assurance" used in the auditor's report?
-
What is considered material by you may not be material from your fellow auditors perspective. You will explore how to determine what materiality levels are so that your audit team is in agreement....
-
Jacomo Companys output for the current period was assigned a $300,000 standard direct materials cost. The direct materials variances included a $44,000 favorable price variance and a $6,000 favorable...
-
I only get one shot at this? you wonder aloud. Mrs. Montgomery, human resources manager at Covington State University, has just explained that newly hired assistant professors must choose between two...
-
Apple products have become a household name in America with 51% of all households owning at least one Apple product (CNN, March 19, 2012). a. What is the probability that two in a random sample of...
-
A beam of protons enters the network of five chambers shown in Figure P27.56 with an initial speed of \(300 \mathrm{~m} / \mathrm{s}\) and moves through the network along the path indicated by the...
-
The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2012. The Print Shop Fund records also revealed the following: 1. Contribution from General Fund for...
-
In a jurisdiction where assisted suicide is illegal, a terminally ill patient with no chance of recovery seeks assistance in ending their life. What legal and ethical considerations come into play,...
-
Write up a two-column cash book for a second-hand bookshop from the following: 20X9 Nov 11 11 "1 11 11 11 11 11 11 11 11 11 11 "1 11 Balance brought forward from last month: Cash 295; Bank 4,240. 2...
-
A three-column cash book for a wine wholesaler is to be written up from the following details, balanced off, and the relevant discount accounts in the general ledger shown. 20X8 Mar 1 Balances...
-
How does authorization for the purchase of property, plant and equipment differ from authorization for other purchases?
-
I am Doing a Speech On Texting and Driving and I really need help I have to use the 5 step Monroe pattern and a Outline with 5 sources and 4 visuals. My Monroe pattern is 1. Attention Introduction -...
-
Breakfasttime Cereal Company manufactures two breakfast cereals in a joint process. Cost and quantity information is as follows: Joint Cost $110,000 Cereal Yummies Quantity at Split-Off Point 14,000...
-
Your post (10 points) Responses (5 points) 15 points total Question: What are your thoughts about Communication Privacy Management Theory (p. 134-136)? Think of a close friendship that is either...
-
Explain Aztec Component Supplies' operations resources versus market requirements. What are two advantages and two disadvantages of the discussed offer in the case for both Aztec and Desron? What are...
-
### Fact check the short travelogue segment below to find five factual inaccuracies, and confirm each correction with a source. The Great Smokey Mountains, located along the Tennessee and North...
-
The Solaris documentation states that a ULT may yield to another thread of the same priority. Isnt it possible that there will be a run able thread of higher priority and that therefore the yield...
-
Halley's comet travels in an ellipti- cal orbit with a = 17.95 and b = 4.44 and passes by Earth roughly every 76 years. Note that each unit represents one astronomical unit, or 93 million miles. The...
-
You are presented with the following information for three quite separate and independent companies: Additional information: 1 The operating profit before interest and tax for the year to 31 March...
-
The following information has been extracted from the accounts of Witton Way Ltd: Additional information: During the year to 30 April 2016, the company tried to stimulate sales by reducing the...
-
The following information has been extracted from the accounts of Witton Way Ltd: Additional information: During the year to 30 April 2016, the company tried to stimulate sales by reducing the...
-
A router uses an IP packet size of 512 bytes and has a link speed of 100 Mbs (100 x 10 6 ). What is the efficiency for the standard IP packet header size? What is the link goodput?
-
If a link in the network with 20 nodes and 50 links fails, then how do the routing table sizes change in both cases?
-
Denormalize the following three tables, into one table called tbl_location: tbl_state contains (state_id,state_name) tbl_county contains (conty_id,county_name) tbl_city contains (city_id,city_name)....
Study smarter with the SolutionInn App