materiality by nature

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October 4, 2016 at 8:23 pm #342403
Muslim Farooque
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how do we judge whether something is material by nature? and could you sir give handful of examples for it,
October 4, 2016 at 9:03 pm #342404
Ken Garrett
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You won’t have to judge very much at F8, but examples are:
1 Directors’ emoluments. No reason why these should not be precise.
2 Cash at bank.
3 A small profit being reported instead of a small loss. This can give unjustified hope.
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