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of <h1>Materiality in Financial Statements: Impact on Decision-Making by Investors and Creditors under Ind AS.</h1> Information is considered material in financial statements if its omission, misstatement, or obscurity could influence decisions by primary users, such as investors and creditors. Materiality is assessed based on the nature or magnitude of the information. Obscured information can result from unclear language, scattered data, inappropriate aggregation or disaggregation, and excessive immaterial details. Financial statements, aimed at users with reasonable business knowledge, often require additional notes for clarity. Other comprehensive income includes items not recognized in profit or loss, such as revaluation changes, foreign exchange gains or losses, and certain financial instrument adjustments, as specified by Indian Accounting Standards (Ind AS).
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