Related party transaction
This query is : Resolved
06 December 2015
Hi
I have three querries regarding related party disclosure under AS 18
1. The investment balances in subsidiaries, need to be shown as related party balaces as the same is disclose under investment schdules.
2. Advances paid to related party is required to be disclose as transaction, however when those advaces are adjusted against bills or service tax , such adjustment also constitute related party transaction?
3. Guarantee given or taken from related party is a related party disclosure?.. as the same is covered in borrowing schdule
I have three querries regarding related party disclosure under AS 18
1. The investment balances in subsidiaries, need to be shown as related party balaces as the same is disclose under investment schdules.
2. Advances paid to related party is required to be disclose as transaction, however when those advaces are adjusted against bills or service tax , such adjustment also constitute related party transaction?
3. Guarantee given or taken from related party is a related party disclosure?.. as the same is covered in borrowing schdule
07 December 2015
1.Investment insubsidiaries - disclose in RPT
2.Advances paid to related party - disclose in RPT as advances
Advances adjusted aginst serives - Disclose as Services Provides by related party in RPT
3.Guaranttes need not be disclosed in RPT as per AS18.
2.Advances paid to related party - disclose in RPT as advances
Advances adjusted aginst serives - Disclose as Services Provides by related party in RPT
3.Guaranttes need not be disclosed in RPT as per AS18.
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