IAS 24Chapter 7Lesson 1
Transactions and balances: what must be disclosed
Step 1 of 8Learning objectives
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When transactions have occurred, the entity discloses the nature of the relationship, the amounts of transactions and balances (including commitments), the allowances and the expense for the period, separately by related party category.
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Learning objectives
- State the minimum content of the disclosure on transactions and balances.
- Calculate a net balance and the allowance expense of the period from the data of a case.
- Present the information by related party category and recognise examples of transactions.