MATERIALITY PRINCIPLE Definition

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MATERIALITY PRINCIPLE requires accountants to use generally accepted accounting principles except when to do so would be expensive or difficult, and where it makes no real difference if the rules are ignored. If a rule is temporarily ignored, the net income of the company must not be significantly affected, nor should the readers ability to judge the financial statements be impaired.

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NET INTEREST MARGIN is the interest income earned on assets less interest expense paid on liabilities and capital. NET INTEREST MARGIN is the gross margin for financial institutions.

CEDI (CEDIS) is a currency of Ghana.

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