Related Party Flashcards
1
Q
Examples of Related Party (JACKPOC)
A
Joint Venture
Associate
Control
Key Management Personnel
Post employment Benefit Plan
Close family members
- Children
- Spouse
- Dependents
2
Q
What to disclose when it comes to KMP?
A
compensation (in total and per category - SPOTS)
3
Q
If the amount is PHP 0 between the related parties, should the transaction be disclosed?
A
YES
