TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Ind AS 24 requires disclosure of related party transactions and balances for transparency in financial statements. Exceptions apply.</h1> Indian Accounting Standard (Ind AS) 24 mandates disclosures in financial statements about related party relationships, transactions, and outstanding balances to highlight potential impacts on an entity's financial position and performance. It applies to consolidated and individual financial statements, requiring identification and disclosure of related parties, including parents, subsidiaries, associates, and key management personnel. Exceptions exist where disclosure conflicts with confidentiality obligations. Related party transactions can affect financial outcomes differently than those with unrelated parties. Disclosures should include transaction amounts, outstanding balances, and terms. Government-related entities have specific exemptions. The standard aims to provide transparency and inform users about potential risks and opportunities.
TaxTMI 
TaxTMI 
