Dictionary of Accounting Terms: material
material
- raw material, direct or indirect. An example is steel to make a car. Usually accounted for separately by a debit to materials (stores control) and a credit to accounts payable or cash. When materials are transferred to work-in-process, inventory is credited.
- relatively important and significant in dollar amounts. See also materiality.
Dictionary of Business Terms: material
material
- goods used in the manufacturing process. See also direct material.
- important, as a material fact in a trial, a material amount of money.
