Materiality: meaning, definitions and examples

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materiality

[ məˌtɪərɪˈælɪti ]

^{Context #1}

business

The quality or state of being material or substantial. In accounting, materiality refers to the significance of an item or event in relation to the financial statements. It is used to determine whether an item should be disclosed or accounted for separately.

Synonyms

importance, significance, substantiality

Examples of usage

The auditor considered the materiality of the misstatement before issuing the final report.
Materiality plays a crucial role in determining the financial reporting requirements.

^{Context #2}

law

The relevance or importance of evidence in a legal proceeding. Materiality is used to assess whether certain evidence is significant enough to influence the outcome of a case.

Synonyms

importance, relevance, significance

Examples of usage

The lawyer argued that the evidence presented was of little materiality to the case.
The judge instructed the jury on the concept of materiality in evaluating the evidence.

Translations

Translations of the word "materiality" in other languages:

🇵🇹 materialidade

🇮🇳 भौतिकता

🇩🇪 Materialität

🇮🇩 materialitas

🇺🇦 матеріальність

🇵🇱 materialność

🇯🇵 物質性

🇫🇷 matérialité

🇪🇸 materialidad

🇹🇷 maddi varlık

maddilik
somutluk

🇰🇷 물질성

🇸🇦 مادية

🇨🇿 materialita

🇸🇰 materiálnosť

🇨🇳 实质性

🇸🇮 materialnost

🇮🇸 efnisleiki

🇰🇿 материалдылық

🇬🇪 მატერიალურობა

🇦🇿 maddilik

🇲🇽 materialidad

Word origin

The word 'materiality' originated from the Latin word 'materialis', which means 'pertaining to matter'. Its usage evolved over time to refer to the quality or state of being material or substantial. In accounting and law, the concept of materiality plays a crucial role in decision-making and evaluation of information.