Dutch to English translations [PRO]
Bus/Financial - Accounting | | Dutch term or phrase: materialiteitsniveau | Een boekhoudkundige term die een schatting aanduidt van hoeveel boekhoudkundige fouten verwacht worden in een bepaald budget. Dit is geen officiële definitie, maar ik vond wel de zin:
Voor het bepalen van de controletolerantie zijn geen formele regels, maar wel worden twee algemene
regels gehanteerd:
- De toelaatbare fout moet lager zijn dan het totale materialiteitsniveau;
- De som van de toelaatbare fout van alle posten hoeft niet gelijk te zijn aan de materialiteit en zal
deze in de meeste gevallen zelfs overschrijden. |
|   Anne LeeKudoZ activityQuestions: 96 (none open) ( 3 closed without grading) Answers: 263
United Kingdom
| | Local time: 06:21
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| | Materiality: Magnitude of an omission or misstatement of | Explanation:
accounting data that mislead financial statement readers. The level of materiality is invariably set by the auditors of those financial statements.
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Note added at 31 mins (2005-09-23 16:03:05 GMT)
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http://www.sec.gov/interps/account/sab99.htm
1. Assessing Materiality
Facts: During the course of preparing or auditing year-end financial statements, financial management or the registrant's independent auditor becomes aware of misstatements in a registrant's financial statements. When combined, the misstatements result in a 4% overstatement of net income and a $.02 (4%) overstatement of earnings per share. Because no item in the registrant's consolidated financial statements is misstated by more than 5%, management and the independent auditor conclude that the deviation from generally accepted accounting principles ("GAAP") is immaterial and that the accounting is permissible.1
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Note added at 32 mins (2005-09-23 16:03:38 GMT)
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Toelaatbare fout = tolerable error |
| Selected response from:
xxxjarry
South Africa
Local time: 07:21
| Grading comment Many thanks.
4 KudoZ points were awarded for this answer |
| |
| Discussion entries: 0 |
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Automatic update in 00:
|
31 mins confidence:  peer agreement (net): +1
29 mins confidence:  peer agreement (net): +2 Materiality: Magnitude of an omission or misstatement of
Explanation:
accounting data that mislead financial statement readers. The level of materiality is invariably set by the auditors of those financial statements.
--------------------------------------------------
Note added at 31 mins (2005-09-23 16:03:05 GMT)
--------------------------------------------------
http://www.sec.gov/interps/account/sab99.htm
1. Assessing Materiality
Facts: During the course of preparing or auditing year-end financial statements, financial management or the registrant's independent auditor becomes aware of misstatements in a registrant's financial statements. When combined, the misstatements result in a 4% overstatement of net income and a $.02 (4%) overstatement of earnings per share. Because no item in the registrant's consolidated financial statements is misstated by more than 5%, management and the independent auditor conclude that the deviation from generally accepted accounting principles ("GAAP") is immaterial and that the accounting is permissible.1
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Note added at 32 mins (2005-09-23 16:03:38 GMT)
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Toelaatbare fout = tolerable error
| xxxjarry
South Africa
Local time: 07:21
Meets criteria
Specializes in field
Native speaker of: English
PRO pts in category: 164
|
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