10 key takeaways on the Practice Statement 2, Making Materiality Judgements

Originally published at: 10 key takeaways on the Practice Statement 2, Making Materiality Judgements | TheAccSense

The preparation of financial statements requires an entity to make materiality judgements to determine what and how financial information should be presented and disclosed in the financial statements. In one of our articles in the Accounting 101 series, we have highlighted that materiality is one of the considerations in the preparation of the financial statements.…