What is meant by the term materiality in financial reporting?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (21 reviews)
Information is material if it is deemed to have an effect on a decision made by a u...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4.90+
4+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Question Posted:
Students also viewed these Accounting questions
-
What is meant by the term operating cycle?
-
What is meant by the term distribution policy? How have dividend payouts versus stock repurchases changed over time?
-
What is meant by the term dividend policy?
-
From the work sheet, prepare the following: 1. Closing entries for Gimbel's Gifts and Gadgets in a general journal. 2. A post-closing trialbalance. Gimbel's Gifts and Gadgets Work Sheet For Year...
-
The original association rule mining framework considers only presence of items together in the same transaction. There are situations in which itemsets that are infrequent may also be informative....
-
When a motorcycle accelerates rapidly from a stop it sometimes "pops a wheelie"; that is, its front wheel may lift off the ground. Explain this behavior in terms of torques.
-
Bank Reconciliation} The cash account of Mason Products reveals the following information: The bank amounts are determined to be correct. Required: 1. Prepare a bank reconciliation for May. 2....
-
Each coffee table produced by Kevin Watson Designers nets the firm a profit of $ 9. Each bookcase yields a $ 12 profit. Watsons firm is small and its resources limited. During any given production...
-
1) (3pts) Let G be a connected graph. Prove that G is Eulerian if and only if each of the blocks of G is Eulerian. 2) (2.5) A wheel graph W,, n 2 4 is the graph made from the cycle C,-, by adding an...
-
For the reaction below: CHy-H OH H-OH a. Estimate the gas phase enthalpy change using bond dissociation enthalpies from the OWL Table Reference, not data from your text. Click the References button...
-
Explain what is meant by: The benefits of accounting information must exceed the costs.
-
Briefly define the financial accounting elements: (1) Assets, (2) Liabilities, (3) Equity, (4) Investments by owners, (5) Distributions to owners, (6) Revenues, (7) Expenses, (8) Gains, (9) Losses,...
-
What are the general guidelines as to what working papers should include?
-
A company uses machine hours to allocate overhead. The company has the practical capacity to use 100,000 machine hours. The fixed overhead is expected to be $1 million and the expected usage of...
-
During its fiscal year ending on July 31, 2004, the Dr. Ing. h.c. F. Porsche AG, commonly known as Porsche, manufactured 81,531 vehicles. During that same year Porsche recorded depreciation of...
-
A firm makes a product with variable manufacturing costs equal to \($3\) per unit and fixed manufacturing costs of \($10,000.\) The product cost is based on an average cost per unit. The company...
-
Central administration allocates its costs of 1 million to the two operating divisions (A and B) of the company. These costs are not avoidable if one division is dropped. With an equal allocation of...
-
Alamo, Inc., is a technology consulting firm focused on Web site development and integration of Internet business applications. The president of the company expects to incur \(\$ 706,000\) of...
-
What has happened to short-term nominal interest rates over the last two years? What about long-term nominal interest rates?
-
On average there are four traffic accidents in a city during one hour of rush-hour traffic. Use the Poisson distribution to calculate the probability that in one such hour there arc (a) No accidents...
-
GAAP require all of the following note disclosures for capital assets except: a. current year depreciation expense by function. b. a differentiation between depreciable and nondepreciable assets. c....
-
What are the considerations in imputing an appropriate interest rate?
-
What are the considerations in imputing an appropriate interest rate?
-
What are the considerations in imputing an appropriate interest rate?
-
7 . Carns Company is considering eliminating its Small Tools Division, which reported a loss for the prior year of $ 2 4 5 , 0 0 0 as shown below. If the Small Tools Division is dropped, all of its...
-
Problem 8 - 6 A Recording accounts receivable transactions and bad debt adjustments LO 1 , 2 , 3 Peru Industries began operations on January 1 , 2 0 2 3 . During the next two years, the company...
-
Payment Cheque # 4 8 8 Dated June 5 , 2 0 2 5 To Red Deer Promotions, $ 2 9 4 0 in payment of invoice #RDP - 8 6 6 8 .
Study smarter with the SolutionInn App