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  2. Materiality (auditing) - Wikipedia

    en.wikipedia.org/wiki/Materiality_(auditing)

    The concept of materiality in accounting is strongly correlated [8] with the concept of Stakeholder Engagement. The main guidelines on the preparation of non-financial statements ( GRI Standards and IIRC <IR> Framework) underline the centrality of the principle of materiality and the involvement of stakeholders in this process.

  3. ISA 320 Audit Materiality - Wikipedia

    en.wikipedia.org/wiki/ISA_320_Audit_Materiality

    Materiality: The amount by which the Financial Statements must change in order to change the decisions made by users of the Financial Statements. There are no hard rules over materiality and items can be material by nature as well as by value. Examples of items that are material by nature are bank balances and directors emoluments.

  4. Accounting constraints - Wikipedia

    en.wikipedia.org/wiki/Accounting_constraints

    Materiality assessment need to be signed off by senior business manager; It is important to do the review which makes the process reliable; Advanced: Send the materiality assessment's outcomes to the board of directors; Include some social trends into outcomes, which can make the assessment into wider corporate strategy process;

  5. Going concern - Wikipedia

    en.wikipedia.org/wiki/Going_concern

    A current definition of the going concern assumption can be found in the AICPA Statement on Auditing Standards No.1 Codification of Auditing Standards and Procedures, Section 341, “The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern” (AU Section 341). The "going concern" concept assumes that the business ...

  6. Generally Accepted Accounting Principles (United States)

    en.wikipedia.org/wiki/Generally_Accepted...

    Examples of nonauthoritative accounting guidance and literature include the following: [4] Practices that are widely recognized and prevalent either generally or in the industry; FASB Concepts Statements; American Institute of Certified Public Accountants (AICPA) Issues Papers

  7. Macy's delays results after finding employee hid millions in ...

    www.aol.com/news/macys-delays-q3-report...

    (Reuters) -Macy's on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell ...

  8. Substance over form - Wikipedia

    en.wikipedia.org/wiki/Substance_over_form

    Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". If an entity practices the 'substance over form' concept, then the financial statements will convey the overall financial reality of the entity (economic substance), rather than simply reporting the legal record of transactions ...

  9. The Key to Actually Quitting Bad Habits - AOL

    www.aol.com/key-actually-quitting-bad-habits...

    For example, if you’re trying to quit smoking, CBT teaches you to increase the number of minutes between waking and having your first cigarette — first for two minutes, then five minutes, then ...