Determining a related party
In this lesson, you'll learn how to identify related parties—a critical skill for Financial Reporting and Strategic Business Reporting exams. Related parties include entities under common control, associates with significant influence, key management personnel, and their close family members.
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In this lesson
- 0:01 Identifying related parties: Core definitions
- 0:28 Joint operations and group membership
- 1:08 Associates and significant influence
- 2:04 Related parties through key management personnel
- 2:42 Complex group structures and relationships
- 4:00 Materiality by nature in disclosures
- 5:17 Post-employment benefits as related parties
- 6:47 Consolidation and eliminated transactions
About this lesson
Through eight worked examples, you'll master the practical application of related party definitions, understand when transactions must be disclosed regardless of monetary value, and see how group structures, post-employment benefits, and changes in ownership affect disclosure requirements. This knowledge is essential for preparing accurate financial statements and passing your ACCA or CIMA qualification.
Duration: 8m
Transcript
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