relevance

relevance
1) The accounting principle that the financial information provided by a company should (a) be of such a nature that it is capable of influencing the decisions of users of that information, and (b) be provided in time to influence those decisions. To be relevant, information must either have predictive value or act as confirmation or correction of earlier expectations. The concept is defined in the Accounting Standards Board's Statement of Principles and in Financial Reporting Standard 18, Accounting Policies.
2) The principle in decision making that the impact of a particular decision on the performance of an organization can only be determined by identifying those elements of cost or revenue that are relevant to the decisions made.

Accounting dictionary. 2014.

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  • Relevance — is a term used to describe how pertinent, connected, or applicable something is to a given matter. A thing is relevant if it serves as a mean to a given purpose. Imagine a patient suffering a well defined disease such as scurvy caused by lack of… …   Wikipedia

  • relevance — rel·e·vance / re lə vəns/ n: the quality or state of being relevant: relation to the matter at hand ruled on the relevance of the testimony relevance in discovery has been broadly interpreted Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

  • relevance — UK [ˈreləv(ə)ns] / US [ˈreləvəns] or relevancy UK [ˈreləv(ə)nsɪ] / US [ˈreləvənsɪ] noun [uncountable] ** the quality of being directly connected with and important to something else relevance of: I don t see the relevance of what you are saying.… …   English dictionary

  • Relevance — Rel e*vance (r?l ?*vans), Relevancy Rel e*van*cy ( van*s?), n. 1. The quality or state of being relevant; pertinency; applicability. [1913 Webster] Its answer little meaning, little relevancy bore. Poe. [1913 Webster] 2. (Scots Law) Sufficiency… …   The Collaborative International Dictionary of English

  • relevance — first recorded in the 18c, has almost completely ousted the alternative form relevancy …   Modern English usage

  • relevance — noun ADJECTIVE ▪ considerable, great, wider ▪ limited, marginal ▪ This debate has limited relevance to our current concerns. ▪ dubious …   Collocations dictionary

  • relevance — n. 1) to have relevance to 2) of relevance to (his testimony is of no relevance to the case) * * * [ relɪv(ə)ns] to have relevance to of relevance to (his testimony is of no relevance to the case) …   Combinatory dictionary

  • relevance — rel|e|vance [ reləvəns ] or relevancy [ reləvənsi ] noun uncount ** the quality of being connected with and important to something else: relevance of: I don t see the relevance of what you are saying. of relevance to something: The course covers… …   Usage of the words and phrases in modern English

  • relevance — [[t]re̱ləv(ə)ns[/t]] N UNCOUNT: with supp, oft N to n Something s relevance to a situation or person is its importance or significance in that situation or to that person. Politicians private lives have no relevance to their public roles... There …   English dictionary

  • relevance — noun Date: 1733 1. a. relation to the matter at hand b. practical and especially social applicability ; pertinence < giving relevance to college courses > 2. the ability (as of an information retrieval system) to retrieve material that satisfies… …   New Collegiate Dictionary

  • relevance — rel·e·vance (rĕlʹə vəns) n. 1. Pertinence to the matter at hand. 2. Applicability to social issues: a governmental policy lacking relevance. 3. Computer Science. The capability of a search engine or function to retrieve data appropriate to a user …   Universalium

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