Where Standard Specifically Require Materiality Judgments

Abstract

Part VII highlights certain accounting pronouncements that call for a specific application of materiality to certain financial statement items.

After reviewing the general debate of whether the same concept of materiality should apply evenly to financial statements or it should be standard-, entity-, or topic-specific, it considers the use of a specific unit of account for materiality considerations in revenue recognition, the object of materiality in related-party transactions, and specific items or circumstances that trigger materiality judgments,

The part includes a checklist of accounting pronouncements relating to specific materiality decisions. It also lists where, according to the IASB, each specific standard indicates the need for a specific attention of users to materiality.

Citation

Bellandi, F. (2017), "Where Standard Specifically Require Materiality Judgments", Materiality in Financial Reporting, Emerald Publishing Limited, Leeds, pp. 325-346. https://doi.org/10.1108/978-1-78743-736-420171016