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New York Codes Rules Regulations (Last Updated: March 27,2024) |
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TITLE 10. Department of Health |
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Chapter V. Medical Facilities |
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Subchapter A. Medical Facilities—Minimum Standards |
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Article 8. New York State Annual Hospital Report |
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Part 442. Reporting Principles and Concepts |
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Basic Concepts |
Sec. 442.9. Materiality
Latest version.
- [ 1180 ] Materiality is an elusive concept with the dividing line between material and immaterial amounts subject to various interpretations. It is clear, however, that an amount is material if its exclusion from the financial statements would cause misleading or incorrect conclusions to be drawn by users of the statements.