In CON2 (1980), the FASB outlined the concept of materiality with the following description: the magnitude of an omissio

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In CON2 (1980), the FASB outlined the concept of materialitywith the following description: the magnitude of an omission ormisstatement of accounting information that, in the light ofsurrounding circumstances, makes it probable that the judgment of areasonable person relying on the information would have beenchanged or influenced by the omission or misstatement.
This definition was later refined in CON8 to: Information ismaterial if omitting it or misstating it could influence decisionsthat users make on the basis of the financial information of aspecific reporting entity
Discuss how you think these definitions differ. Provide(and discuss) an example of a case in which one definition mightlead to a different conclusion than the other.