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PAS 24 Related Party Disclosures. Asst. Prof. Berlyn M. Teano Accountancy, CBAA.
Enumerate examples of related parties. Describe the disclosure requirements for related parties..
Parties are related if one party has the ability to affect the financial and operating decisions of the other party through control, significant influence or joint control..
Parent and its subsidiary. Examples of Related Parties.
Investor and its associate; and the associate's subsidiary Venturer and the joint venture; and the joint venture's subsidiary A joint venture and an associate of a common investor Key management personnel of the reporting entity or of the reporting entity's parent..
Examples of Related Parties. PAS 24 Related Party Disclosures.
Illustration: Mr. X is a director in A Co. and also in B Co. Analysis: The related parties are A Co. and Mr. X and B Co. and Mr. X because Mr. X is a key management personnel of these companies. A Co. and B Co. are not related parties simply because they have an interlocking director..
Related Parties. PAS 24 Related Party Disclosures.
Disclosure. PAS 24 Related Party Disclosures. BMTeano.
Short-term employee benefits post-employment benefits; other long-term benefits; termination benefits; and share-based payment..
Related Party Transactions. PAS 24 Related Party Disclosures.
Examples of transactions that are disclosed if they are with a related party: purchases or sales of goods, services or other assets leases transfers of research and development transfers under license agreements loans and other financing arrangements, including equity contributions.
Related Party Transactions. PAS 24 Related Party Disclosures.
Government-related Entities. PAS 24 Related Party Disclosures.
a. name of the government and the nature of the relationship b. nature and amount of each individually significant transaction c. other transactions that are collectively significant but are individually insignificant.
PAS 24 Related Party Disclosures. BMTeano. 16. END.