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Materiality

Skill bromso/metapowers/plugins/accounting/skills/materiality

A Claude Code plugin that adds an agentic skills framework, with MCP's and a meta prompting processes. Inspired by "Superpowers" & "Figma Console MCP", but not just for development or design; but for all aspect within the digital production cycle.

Install
npx -y skills add bromso/metapowers --skill materiality

Assembled from the repository path, not quoted from the project. Check it against their README if it does not work.

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Determine significance thresholds for reporting and adjustment decisions

SKILL.md

2.5 KB, as published. Nobody here has run it

Materiality

Determine materiality thresholds for "$ARGUMENTS". Establish quantitative and qualitative benchmarks to guide which items require adjustment, disclosure, or further investigation.

Prerequisites

None — utility skill, run anytime. Most effective after Phase 4 (trial balance) or Phase 7 (statements) when financial totals are available.

Process

  1. Select materiality benchmarks:

    • Common quantitative benchmarks:
      • 5-10% of pre-tax income (for-profit entities)
      • 0.5-1% of total revenue
      • 0.5-1% of total assets
      • 1-2% of total equity
    • Choose the benchmark most relevant to the entity's circumstances
    • For nonprofits, consider total expenses or total contributions

  2. Calculate materiality levels:

    • Overall materiality — the threshold for the financial statements as a whole
    • Performance materiality — a reduced threshold (typically 50-75% of overall) used during testing to allow for undetected misstatements
    • Trivial threshold — below this amount, items are clearly inconsequential (typically 5% of overall materiality)

  3. Apply qualitative factors:

    • Even below quantitative thresholds, items may be material if they:
      • Involve fraud or illegal acts
      • Affect compliance with debt covenants or regulatory requirements
      • Change a trend (e.g., turn a profit into a loss)
      • Affect management compensation or bonuses
      • Involve related-party transactions
      • Were previously communicated as significant

  4. Document materiality decisions:

    • Apply thresholds to known misstatements and adjustments
    • Recommend which items to adjust and which to pass on
    • Aggregate unadjusted items and assess whether the total is material

  5. Write the artifact to .metapowers/accounting/$ARGUMENTS/materiality.md with sections:

    • Materiality Calculation — benchmark selected, base amount, and computed thresholds
    • Qualitative Factors — additional considerations that could lower thresholds
    • Application — list of items evaluated against materiality with adjust/pass recommendation
    • Summary of Unadjusted Differences — items passed on and their aggregate effect

Output

The materiality assessment written to .metapowers/accounting/$ARGUMENTS/materiality.md. Present a summary highlighting:

  • Overall and performance materiality thresholds
  • Number of items evaluated
  • Recommendations to adjust vs. pass

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