Accounting 101 - Materiality accounting principle

The main idea of materiality is that we are born to be awesome, not perfect. We try to avoid mistakes, yet they do occasionally happen, and some mistakes are more painful than others. Materiality is the threshold above which missing or incorrect information in financial statements is considered to impact the fair and accurate representation of the financial situation. Philip de Vroe (The Finance Storyteller) aims to make accounting, finance and investing enjoyable and easier to understand. Learn the business and accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better investing decisions. Philip delivers #financetraining in various formats: YouTube videos, livestreams, classroom sessions, and webinars. Connect with me through Linked In! Want to get access to bonus content, and/or express your gratitude by buying me a cup of tea? Join my channel as a member through https://www.youtube.com/channel/UCQQJnyU8fALcOqqpyyIN4sg/join