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What do you mean by material facts in accounting?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 aliya bhat asked over 2 years ago

Hi I am one of the CA Intermediate | CA IPCC student. I want to know about the accounting. Can I know, What do you mean by material facts in accounting?

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered about 2 years ago

Material facts are documents pertaining to the historical events of the facts being justified. Material facts in accounting means those facts that involves material amount and which may affect the financial statements to a great extend and hence needed to be disclosed in the companies financial statement.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Material facts in accounting means those facts that involves material amount and which may affect the financial statements to a great extend and hence needed to be disclosed in the companies financial statement.

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered over 2 years ago

Dear Friend, as far as your query is concerned that What do you mean by material facts in accounting? Let me informed that Material facts are documents pertaining to the historical events of the facts being justified. Material facts in accounting means those facts that involves material amount and which may affect the financial statements to a great extend and hence needed to be disclosed in the companies financial statement. Hope answer was helpful to you Regards, Arjun Pratap Singh

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