Material and P&L

Is there a document that covers Material and how it affects P&L? New people in accounting is asking questions.

You will have to ask them to clarify what they mean. That is a very open-ended question that people could respond to and never actually answer their question.

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Yep. If material means inventory, that should go on the balance sheet or assets & liabilities. Well, technically, I have seen inventory on a P&L, but that was from the perspective of helping fix that mess.

Maybe material means something else?
Maybe they’re looking for material movements, in which case there’s a tech ref document that covers inventory transactions.