Materiality in financial statements: determine disclosures that influence primary users' economic decisions and avoid obscuring information. Materiality requires disclosure when omitting, misstating or obscuring information could reasonably influence primary users' decisions; assessment depends ... Summary
Materiality in financial statements: determine disclosures that influence primary users' economic decisions and avoid obscuring information.
Materiality requires disclosure when omitting, misstating or obscuring information could reasonably influence primary users' decisions; assessment depends on the nature and/or magnitude of information, considered individually or in combination, and on the characteristics of those users and the entity. Information is obscured by unclear language, scattered presentation, inappropriate aggregation or disaggregation, or excessive immaterial detail. Notes provide narrative descriptions and disaggregations, and other comprehensive income items include revaluations, defined benefit remeasurements, translation gains or losses, and certain fair value and hedging adjustments under Ind AS 109.
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