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BRILLIANT’S Accounting Standards 55

AS-18: Related Party Disclosures AS-18: [aboQ>oS> nmQ>u {S>ñŠbmoOa
Sometimes business transactions between H$^r-H$^r [aboQ>oS> nmQ>uO Ho$ ~rM {~OZog Q´>m§OoŠe§g
related parties lose the feature and character Hw$N> Xÿar Ho$ Q´>m§OoŠe§g JwU VWm {deofVm Imo XoVo h¢&
of the arms length transactions. Related parties [aboQ>oS> nmQ>u-nmQ>uO H$mo g§~§{YV _mZm OmVm h¡ `{X [anmo{Q>ªJ
are considered to be related if at any time
during the reporting period, one party has the nr[a`S> Ho$ Xm¡amZ {H$gr ^r g_` EH$ nmQ>u _| AÝ` nmQ>u
ability to control the other party or exercise H$mo {Z`§{ÌV H$aZo `m \$m`Z|{e`b VWm/ `m Am°naoqQ>J
significant influence over the other party in {ZU©` H$aZo _| AÝ` nmQ>u na _hÎdnyU© à^md à`moJ H$aZo
making financial and/or operating decisions. H$s `mo½`Vm hmoVr h¡&
Objective: To establish requirement for CÔoí`… {ZåZ{b{IV Ho$ {S>ñŠbmoOa Ho$ {bE Amdí`H$Vm
disclosure of: ñWm{nV H$aZm…
(a) Related party relationships; and (a) [aboQ>oS> nmQ>u [aboeZ{en VWm
(b) Transactions between a reporting (b) EH$ [anmo{Q>ªJ E§Q>aàmBO VWm BgH$s [aboQ>oS> nmQ>uO
enterprise and its related parties. Ho$ ~rM Q´>m§OoŠe§g&
Scope: joÌ…
1. This standard should be applied in 1.> `h ñQ>¢S>S>© [aboQ>oS> nmQ>u [aboeZ{eßg VWm EH$ [anmo{Q>ªJ
reporting related party relationships and E§Q>aàmBO VWm BgH$s [aboQ>oS> nmQ>uO Ho$ ~rM [anmo{Q>ªJ
transactions between a reporting
enterprise and its related parties. _| bmJy {H$`m OmZm Mm{hE&
2. This standard applies only to related party 2. `h ñQ>¢S>S>© Ho$db [aboQ>oS> nmQ>u [aboeZ{en na bmJy
relationship. hmoVm h¡&

AS-19: Leases AS-19: brOog
AS 19 prescribe the accounting and AS 19 boOa VWm brOr H$s ~wŠg _| \$m`Z|g brO
disclosure requirement for both finance lease VWm Am°na|qQ>J brO XmoZm| Ho$ {bE AH$mC§{Q>§J VWm
and operating lease in the books of the lessor
and lessee. {S>ñŠbmoOa Amdí`H$Vm H$m dU©Z H$aVm h¡&
Lease is an arrangement by which the brO EH$ ì`dñWm h¡ {OgHo$ Ûmam boOa (Omo g§n{Îm
lessor (who owns the asset) gives the right to H$m _m{bH$ h¡) {H$am`o na brOr H$mo Xr J`r g_` Ad{Y Ho$
use an asset for given period of time to the {bE EH$ g§n{Îm H$m Cn`moJ H$aZo H$m A{YH$ma XoVm h¡&
lessee.
Objective: To prescribe for lesses and CÔoí`… \$m`Z|g brOog VWm Am°naoqQ>J brOog Ho$
lessor, the appropriate accounting policies and g§~§Y _| AH$mC§qQ>J Zr{V`m| VWm {S>ñŠbmoOg© H$m boOr VWm
disclosures in relation to finance leasers and boOg© Ho$ {bE dU©Z H$aZm&
operating leases.
A finance lease is a lease that transfers EH$ \$m`Z|g brO EH$ brO h¡ Omo EH$ g§n{Îm Ho$
substantially all the risks and rewards ñdm{_Ëd Ho$ g^r Omo{I_ VWm nwañH$ma KQ>ZmAmo§ H$mo _hÎdnyU©
incidental to the ownership of an asset. ê$n go ñWmZm§V[aV H$aVm h¡&
An operating lease is a lease other than a EH$ Am°naoqQ>J brO EH$ \$m`Z|g brO Ho$ A{V[aŠV
finance lease. EH$ brO h¡&