What are the rules for materiality limitif the amount of, Accounting Basics

+44 141 628 6080
[email protected]

What are the rules for materiality limitif the amount of

Differentiation betweenmateriality in size and materiality in nature of an asset inaccounting.How we can distinguish between them.for example if thereis given that the carrying amount of machinery is 500000$ andincluded there in is a particular machine "A" with a carryingamount of 450000$.

If the company's materiality limit is 300000$ then whether themachine "A" to be separately disclosed from the other materialbased on its material size or not?And what if,in the case of"nature"?

What are the rules for materiality limit?If the amount of anasset exceeds or declines over materiality limit?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What are the rules for materiality limitif the amount of

Reference No:- TGS0597783

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : There are four categories of employee development and four

There are four categories of employee development and four steps to career management. Discuss the four categories of both, and explain how employee development can complement career management.

Q : What constitutes total risk and how is it measured of the

What constitutes total risk, and how is it measured? Of the two components of total risk, discuss which one investors can eliminate? Explain the remaining risk, and how is it measured?

Q : Dividends declared and paid during feb were 12000 calculate

Dividends declared and paid during Feb were $12,000. Calculate the retained earnings balance at Feb. 28. 2010.

Q : Half and full wave rectifying and fourier rectifying a

Half and Full Wave rectifying and Fourier Rectifying a sinusoidal provides a way to create a dc source. In this problem we consider the Fourier series of the full wave and half wave rectified signals. The full wave rectified signal xf(t) has a per

Q : What are the rules for materiality limitif the amount of

What are the rules for materiality limit?If the amount of anasset exceeds or declines over materiality limit?

Q : Big doms pawn shop charges an interest rate of 273 percent

Big Dom's Pawn Shop charges an interest rate of 27.3 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers.

Q : In the article standardization of health information

In the article Standardization of Health Information Systems in South Africa: The Challenge of Local Sustainability Was the project successful? What were the strengths and weaknesses of the architecture?

Q : The net income reported on the income statement for

The net income reported on the income statement for thecurrent year was $167,900. Prepare the cash flowsfrom operating activities section of the statement ofcash flows, using the indirect method.

Q : On december 31 2006 giant-petrel corporations investment in

On December 31, 2006, Giant-Petrel Corporation's Investment in Penguin Corporation account had a balance of $525,000. The balance consisted of 80% of Penguin's $600,000 stockholders' equity on that date and $45,000 of goodwill.

1943701

Questions
Asked

3,689

Active Tutors

1427447

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What are the rules for materiality limitif the amount of

Reference No:- TGS0597783

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : There are four categories of employee development and four

Q : What constitutes total risk and how is it measured of the

Q : Dividends declared and paid during feb were 12000 calculate

Q : Half and full wave rectifying and fourier rectifying a

Q : What are the rules for materiality limitif the amount of

Q : Big doms pawn shop charges an interest rate of 273 percent

Q : In the article standardization of health information

Q : The net income reported on the income statement for

Q : On december 31 2006 giant-petrel corporations investment in

Discuss alternative theoretical perspectives or concepts

Journal articles focus on treatment of addictive behaviors

Ways technology change fundamental cognitive processes

Practicing independent behavior analyst

Discussion about module in human extrastriate cortex

Illustrate the different method of learning

Define what a behavioural intervention plan is

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What are the rules for materiality limitif the amount of

Reference No:- TGS0597783

Recent Questions Asked Accounting Basics

Q : There are four categories of employee development and four

Q : What constitutes total risk and how is it measured of the

Q : Dividends declared and paid during feb were 12000 calculate

Q : Half and full wave rectifying and fourier rectifying a

Q : What are the rules for materiality limitif the amount of

Q : Big doms pawn shop charges an interest rate of 273 percent

Q : In the article standardization of health information

Q : The net income reported on the income statement for

Q : On december 31 2006 giant-petrel corporations investment in

Asked Questions