Confusing Concepts: Relevance vs Materiality
evidence general intermediate comparisonMaine pehle bhi socha tha ki relevance aur materiality dono hi evidence ka karna hai, lekin phir se padhne ke baad pata lagta hai ki koi faida nahi hai. Kyun ki ye dono hi ek jagah kaam karte hain. Lekin agar aapko isse samajhna hai toh plz explain kijiye ki difference hai. Mauka hai apne doston ko bhi samajhne mein. Aaplog kya sochte hain ki ek evidence relevant ho sakta hai lekin material nahi, ya vice versa. Mujhe to samajh mein aata hai ki relevance ka matlab hai kya evidence related hai case se, lekin material kya hai woh... maine isse pehle se padha tha... ab kuch samajh aaya hai.
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Bhai, I think you're simplifying the concepts a bit too much. Materiality is not just about 'if it matters' like you mentioned. It's a more nuanced concept that requires a proportionality test, where the effect of a transaction or event on financial statements has to be judged. Relevance is about whether info is helpful to users, but materiality's about how much weightage that info carries in the grand scheme of things. Can't just reduce it to a binary choice, yaar.