Managing a Business/Accounting


How might the materiality threshold level set for negative deviations differ between a small and large business?

Hi Laura,

I am not an expert in this section but would try to explain you the details as below:

Materiality is the concept or convention for budgeting or auditing in small and large scale businesses. It helps the auditors in assessing the financial statements prepared with reference to the accounting principles. There are different governing bodies which have set the threshold for determining the materiality and this threshold varies for large and small scale industries depending on the organizational structure, business vision, range of estimation and range of outcomes.
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Managing a Business

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Aniket S Sharma


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