Business terms and jargon
explained. Your business dictionary
What is Materiality
If something is material then it means something and has an impact. If something is immaterial then it is said to be insignificant. This term is used in the accounting and legal arena.
If a multi million pound company forgot to include in its accounts a receipt for £5 then it would not be seem as making the final accounts not a true and fair statement. It can just include it in the next year. It does not matter.
If a person who is accused of stealing has been seen on camera somewhere else at the time the crime was committed then it would be material to the case.
<- Go Back
Business Terms Home page
Search jargon and terms database to learn more:-
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Term created / updated 2009-09-29 12:33:27
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.
Copyright © 2004-2019 Scopulus Limited. All rights reserved.