The concepts of materiality and cost-effectiveness can limit the amount of detailed information included in the financial

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The concepts of materiality and cost-effectiveness can limit the amount of detailed information included in the financial statements. Explain how an accountant might use each to exclude an item from the statements.

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Introduction to Financial Accounting

ISBN: 978-0133251036

11th edition

Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick

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Question Posted: Feb 20, 2015 08:29 AM

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The concepts of materiality and cost-effectiveness can limit the amount of detailed information included in the financial

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Materiality means that items that are not large enough to influence users decisions can be om...View the full answer

Introduction to Financial Accounting

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