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RELATED PARTY DISCLOSURES
Introduction
• IAS 24 deals with the identification of related party
relationships and the disclosure requirements of
related party relationships, transactions and
outstanding balances, including commitments, in the
consolidated financial statements.
• A related-party relationship could have an effect on
profit or loss and the financial position of an entity.
• Related parties may enter into transactions that
unrelated parties would not. For example, an entity
that sells goods to its parent at cost might not sell on
the same terms to another customer.
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