Mostly agree though the concept of materiality seems out of place here.
Decision making factors that in sure but system design absolutely shouldn’t. There is no reason why accounting systems can’t be accurate down to the penny. That’s what computers are good at after all.
Only place where I could see system like relevance is in presentation- showing revenue on millions etc
Agree. I mostly ignored the rest of the post because this threw red flags that the poster does not build real financial systems. Financial systems should be capturing everything, now on the reporting end there is a question on materiality but most definitely not on the system design.
Decision making factors that in sure but system design absolutely shouldn’t. There is no reason why accounting systems can’t be accurate down to the penny. That’s what computers are good at after all.
Only place where I could see system like relevance is in presentation- showing revenue on millions etc