25 February 2011
Performance materiality is a % of overall materiality after giving a haircut (generally haircut is between 25%-50% of Overall materiality). Performance materiality is used for individual Financial statement line item i.e.mistakes below the performance materiality can be ignored, where as overall materiality is considered for entity as a whole.
16 May 2020
Hi Mishraji, you can find the application of Performance materiality at www.deepakbora.com along with videos and text. Once you go through it u will be able to understand the concept. Please feel free to contact me if you have any questions via queries
CAclubindia
