Posted: October 10th, 2022
what the materiality limit is in the company you work
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Find out what the materiality limit is in the company you work. That is, at what amount does your company expense all expenditures under that amount even if the item purchased has future economic benefit. You will likely need to ask someone in your accounting department (usually a fun group of folks in my opinion). You might also ask them what situations give them trouble in making the determination whether to capitalize or expense (e.g., when they buy several of some immaterial items that add up to a material amount).
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