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material


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1. The production supplies of an organization that feature as revenue expenditure purchased from a third party. Materials may be classed as either direct materials, which feature in the final product produced (such as wood and metal in furniture), or indirect materials, which are necessary to carry out production but do not feature in the final product (such as maintenance and cleaning materials). Materials are not necessarily raw materials, but can include components and sub-assemblies used in the finished product. 2.See materiality.

1. The production supplies of an organization that feature as revenue expenditure purchased from a third party. Materials may be classed as either direct materials, which feature in the final product produced (such as wood and metal in furniture), or indirect materials, which are necessary to carry out production but do not feature in the final product (such as maintenance and cleaning materials). Materials are not necessarily raw materials, but can include components and sub-assemblies used in the finished product. 2.See materiality.

Subjects: Accounting.


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