Comparability is the level of standardization of accounting information that allows the financial statements of multiple organizations to be compared to each other. This is a fundamental requirement of financial reporting that is needed by the users of financial statements.
How do you use the word comparable?
conforming in every respect.
- Our house is not comparable with yours.
- A comparable car would cost far more in Europe.
- A car of comparable size would cost far more abroad.
- A fire is comparable with the sun; both give light and heat.
- Its brain is closely comparable to the brain of a chimpanzee.
What does understandability mean?
the quality of language that is comprehensible. clarity, clearness, limpidity, lucidity, lucidness, pellucidity. free from obscurity and easy to understand; the comprehensibility of clear expression.
What is an example of understandability?
For example, a table of future lease payments should include all future periods for which lease payments will be made, so that a reader can understand the entire scope of future obligations.
What do you mean by materiality?
Define materiality
The materiality definition in accounting refers to the relative size of an amount. Professional accountants determine materiality by deciding whether a value is material or immaterial in financial reports.
Are there two ways to say comparable?
“Comparable” can be pronounced as: COMP-er-uh-bul (which is how I usually pronounce it) Com-PAIR-ah-bul (which usually makes me blink and tilt my head)
What type of word is comparable?
What type of word is comparable? As detailed above, ‘comparable’ can be a noun or an adjective. Adjective usage: An elephant is comparable in size to a double-decker bus. Adjective usage: You can’t say that robbing a bank is like pickpocketing—the two are just not comparable.
What is a comparable sentence?
Definition of Comparable. having features in common with something else. Examples of Comparable in a sentence. 1. Finding a hotel with comparable amenities at half the price proved difficult for the travelers.
What does comfortability mean?
Filters. (uncountable) Comfort; the condition of being comfortable. noun.
Is Comperable a word?
Able to be compared (to).
What does uncomparable mean?
Definitions of uncomparable. adjective. such that comparison is impossible; unsuitable for comparison or lacking features that can be compared. synonyms: incomparable best. (superlative of `good’) having the most positive qualities.
What does compromisable mean?
compromisable (comparative more compromisable, superlative most compromisable) Capable of being compromised.
What does no comparable mean?
: not suitable for comparison : incomparable sense 2 comparing two noncomparable situations noncomparable sets of data.
Does comparable mean equal?
1 like, equal, equivalent, similar.
What does comparable value mean?
Comparable value is the dollar amount that the seller or retailer considers property or merchandise to be worth. This is a highly subjective amount and doesn’t mean that the item has or ever will sell at that price.
How does it compare with or to?
Both are correct, but there is a small difference in meaning. “Compare to” expresses similarity between two things. For example: I hesitate to compare my own works to those of someone like Dickens. “Compare with” suggests that the differences between two things at least as important as the similarities.
What is matchi?
Acquired by KPMG in 2017, Matchi is a leading global innovation and matchmaking platform that connects financial institutions and other large companies, with leading-edge, emerging technology solutions and innovators worldwide.
What is a correct pronunciation?
Pronunciation is the way in which a word or a language is spoken. This may refer to generally agreed-upon sequences of sounds used in speaking a given word or language in a specific dialect (“correct pronunciation”) or simply the way a particular individual speaks a word or language.
What is the difference between compatible and comparable?
As adjectives the difference between comparable and compatible. is that comparable is able to be compared (to) while compatible is capable of easy interaction.
What is materiality with example?
In accounting, materiality refers to the relative size of an amount. … Determining materiality requires professional judgement. For instance, a $20,000 amount will likely be immaterial for a large corporation with a net income of $900,000.
How many types of materiality are there?
Three types of audit materiality include overall materiality, overall performance materiality, and the specific materiality. The auditor uses these as per the different situations prevailing in the company.