{"id":96529,"date":"2020-12-28T16:38:22","date_gmt":"2020-12-28T11:08:22","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=96529"},"modified":"2024-04-12T14:25:27","modified_gmt":"2024-04-12T08:55:27","slug":"materiality","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/materiality\/","title":{"rendered":"Materiality"},"content":{"rendered":"\n

In deciding how to recognise, measure, classify, or disclose an item for interim financial reporting purposes, materiality should be assessed in relation to the interim period financial data. In making assessments of materiality, it should be recognised that interim measurements may rely on estimates to a greater extent than measurements of annual financial data. For reasons of understandability of the interim figures, materiality for making recognition and disclosure decision is assessed in relation to the interim period financial data. Thus, for example, unusual or extraordinary items, changes in accounting policies or estimates, and prior period items are recognised and disclosed based on materiality in relation to interim period data.<\/p>\n","protected":false},"excerpt":{"rendered":"

In deciding how to recognise, measure, classify, or disclose an item for interim financial reporting purposes, materiality should be assessed in relation to the interim period financial data. In making assessments of materiality, it should be recognised that interim measurements may rely on estimates to a greater extent than measurements of annual financial data. For…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96529","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nMateriality - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/materiality\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Materiality - Tutorial\" \/>\n<meta property=\"og:description\" content=\"In deciding how to recognise, measure, classify, or disclose an item for interim financial reporting purposes, materiality should be assessed in relation to the interim period financial data. 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