Related Party Transactions & Disclosures: IAS 24 and Beyond

Partner: Udemy
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Description: Understanding related party transactions is crucial for ensuring transparency and compliance in financial reporting. This course is designed to provide a comprehensive overview of related party transactions, focusing on the disclosure requirements under IAS 24, as well as key regulations from the Indian Companies Act and SEBI’s Clause 49. Participants will learn how to recognize related parties, manage related party transactions, and understand the role of auditors and compliance committees in maintaining proper governance. Through case studies and practical examples, students will gain hands-on experience in applying these concepts to real-world scenarios.Section 1: IntroductionThe course begins by introducing the concept of related parties and their relevance in financial reporting. Students will gain an understanding of how related party transactions can influence business decisions, financial disclosures, and governance. This section sets the foundation for further exploration into the regulatory frameworks that govern these transactions.Section 2: Meaning of Related PartiesIn this section, students explore the definitions and criteria used to identify related parties. They will learn about the various categories of related parties, including individuals and entities, and how these relationships are determined. The section also covers the importance of identifying related parties accurately to ensure compliance with accounting standards and regulations.Section 3: Related TransactionsThis section delves into the specifics of related party transactions, focusing on what constitutes such transactions and what exclusions may apply. Students will study the provisions of IAS 24 and gain insights into how related party transactions are handled in financial statements. Practical examples are provided to illustrate the correct accounting treatment and disclosure of these transactions in compliance with IAS 24.<strong
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Price: 99.99
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Source: Impact
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