Related-Party Transaction

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Quotes of the day:

Love cannot endure indifference. It needs to be wanted. Like a lamp, it needs to be fed out of the oil of another\'s heart, or its flame burns low.

— Henry Ward Beecher

A related-party transaction is a deal or arrangement between two parties who are joined by a preexisting business relationship or common interest. For example, a contract between a major shareholder of a corporation and that corporation, agreeing that the shareholder’s company will renovate the corporation’s offices would be a related-party transaction.

Disclosure of Related Parties | Intermediate Accounting | CPA Exam FAR | Chp 24 p 2

Title: Disclosure of Related Parties | Intermediate Accounting | CPA Exam FAR | Chp 24 p 2
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Date posted: May 12, 2017

Related parties (IAS 24) - ACCA (SBR) lectures

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