Refer to Wiley GAAP 2020: Interpretation and Application of Generally Accepted A

Refer to Wiley GAAP 2020: Interpretation and Application of Generally Accepted Accounting Principles, pages 2-25. Answer and discuss the following:
When drafting financial statements, provide what the term “materiality” means and its importance. Include an understanding of the changes to “materiality” made in 2018 by the Financial Accounting Standards Board that makes the term consistent with the United States Supreme Court interpretation.
Provide an assessment of both the quantitative and qualitative dimensions of materiality and include examples.