Materiality Concept. Definition. Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements (IASB Framework). Materiality therefore relates to the significance of transactions, balances and errors contained in the financial statements. Materiality defines the threshold or cutoff point after which financial information becomes relevant to the decision making needs of the users.
The overall cost for on-campus, in-state students to attend University of Colorado Boulder in 2013-2014 was $28,887. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 4.0% each year.
Full-time undergraduate students that do not reside in Colorado paid $32,115 in tuition and fees for the 2013 - 2014 school year prior to adjustments for financial need. Of this amount, $30,528 was the cost of tuition and $1,587 the cost of fees.