Related party disclosures in the financial statements of the companies

Lyubomira Dimitrova ()
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Lyubomira Dimitrova: University of Economics - Varna

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2013, issue 1, 56-64

Abstract: Related party transactions and relationships between them, are subject to mandatory disclosure in the financial statements under national and international accounting standards. The need for disclosure is based on the principle of transparency (true and fair view), as these transactions can have a significant impact on the operation and accordingly on the financial indicators of the entities. The hereby focuses on commentary and analysis of the legal provisions regarding disclosure of related party transactions, as well as outlining the problematic issues in their application.

Keywords: related parties; disclosures; related party transactions; financial statements (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2013
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