Search results
Jun 15, 2024 · AS 18 establishes requirements for disclosure of Related party relationships and transactions between enterprises. It defines Related party as a party with control or influence over another party. Standard covers entities like holding companies, subsidiaries, associates, individuals with influence, key management personnel.
The objective of this Standard is to establish requirements for disclosure of: (a) related party relationships; and (b) transactions between a reporting enterprise and its related parties. Scope 1. This Standard should be applied in reporting related party relationships and
Apr 1, 2015 · IAS 24 Related Party Disclosures requires disclosures about transactions and outstanding balances with an entity's related parties. The standard defines various classes of entities and people as related parties and sets out the disclosures required in respect of those parties, including the compensation of key management personnel.
A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’).
May 1, 2018 · Article compares disclosure required under Companies Act, 2013, Accounting Standard 18 and IND AS 24.It Further explains Related Party Transactions under the Companies Act and Revised Clause 49 of SEBI Listing Agreement.
1. The objective of this Standard is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances, including commitments, with such parties.
If an entity has had related party transactions during the periods covered by the financial statements, IAS 24 requires it to disclose the nature of the related party relationship as well as information about those transactions and outstanding balances, including commitments, necessary for users to understand the potential effect of the relation...
