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An "item" is usually an object, often things we possess or own (or buy). You can create, buy, sell, give away an "item". For example: Four-year-old Mary made a card to give to her mother. Her mother said, "This is the best item anyone has ever given to me!"

An "item" can also be non-objects or intangible. For example, a list may contain a series of words, phrases or sentences that are referred to as "list items." A "list item" may include items that are the names of objects.

For example, John's shopping list included:

  • one hammer
  • one saw
  • a box of nails
  • three boards
  • 6 fasteners
  • a bottle of wood glue

Each of these "list items" are also the names of items that are objects.

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Q: What is an item material?
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When is an item material to a company's financial statements?

Hi guys, i am a student in accounting in malta. Well an item is material if it is does influence the decision of the user. An item is material when it does have a significant amount of money but it does have to do also with the size of the company, for eg an amount of 10000 may be immaterial to a big company but material to a small company. Also the nature of the item has to be seen, this is an item may be seen immaterial with a small amount of money but in fact it should be material because the user does want that particular information eg a pending litigation against the company for a faulty good and service. So to conclude, an item which is immaterial should by pass the rule for the cost - benefit effectivness but an item which is material should be there included for the use of the user. For more info check Ihe concept of materiality ( one of the most important concept of GAAP).


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What material was it made of?

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What do we call an item that doesn't have much material value but important to owner like old family letter and photograph or childhood toy?

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What is the weight of a bale item in kg?

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What is the difference between item category and material type?

Item categoryAn indicator that defines the characteristics of a document item.For example, the item category controls the type and scope of:PricingBillingDeliveryInventory postingTransfer of requirementsItems in stock, and value and text items are item categories.Example:-TAN,TANN,TAC,TAE etc..Material typeA grouping together of materials with the same basic attributes such as raw materials, semifinished products, or finished products.All materials must be assigned to a material type which determines:Whether the material is intended for a specific purpose such as a configurable material or process materialWhether the material number can be assigned internally or externallyThe number range from which the material number is drawnWhich screens appear and in what sequenceWhich user department data you may enterWhat procurement type the material has; that is, whether it is manufactured in-house or procured externally, or bothExample:- FERT,BANS,HALB,ROH etc..with regaards,Rochish


What is the difference between a tool and a material?

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What Useful item can be made from waste material found at home?

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Why does graphite and diamonds have properties?

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