International GAAP 2012: Generally Accepted Accounting Practice under International Financial Reporting Standards

Chapter 37

Related party disclosures

1 Introduction

1.1 The related party issue

1.2 Possible solutions

1.2.1 Remeasurement of related party transactions at fair values

1.2.2 Disclosure of transactions

1.3 Reasons for revising IAS 24

2 Requirements of IAS 24

2.1 Effective date and transition, objective, scope and main changes introduced by the revised IAS 24

2.1.1 Effective date and transition

2.1.2 Objective

2.1.3 Scope

2.1.4 Main changes introduced by the revised IAS 24

2.1.4.A Disclosure exemption for government-controlled entities

2.1.4.B Changes to the definition of a related party

2.1.4.C Disclosures of commitments

2.2 Identification of a related party and related party transactions

2.2.1 Persons or close family members that are related parties

2.2.1.A Control

2.2.1.B Joint control

2.2.1.C Significant influence

2.2.1.D Key management personnel

2.2.2 Entities that are members of the same group

2.2.3 Entities that are associates or joint ventures

2.2.4 Entities that are joint ventures of the same third party

2.2.5 Entities that are joint ventures and associates of the same third entity

2.2.6 Post-employment benefit plans

2.2.7 Entities under common control or joint control

2.2.8 Entities under significant influence

2.2.9 Government-related entities

2.3 Parties that are not related parties

2.4 Disclosure of controlling relationships

2.5 Disclosable transactions

2.5.1 Key management personnel compensation

2.5.2 Other transactions, including commitments

2.5.2.A Commitments

2.5.3 ...