Accounting standard 18 - related party disclosure
This query is : Resolved
26 October 2013
A Ltd holding 33.33% in B Ltd, further A Ltd has made share application money in B ltd, whether the same should be disclosed in Related Party Disclosure in the books of A Ltd.?
26 October 2013
There should be transaction bet A ltd and B ltd and such transactions will be reported under as 18.
Investment in A ltd is not related party transaction but an investment made in Bltd and will be shown in Bal sheet of Altd.
Investment in A ltd is not related party transaction but an investment made in Bltd and will be shown in Bal sheet of Altd.
26 October 2013
In the above situation A ltd has invested as a share application money in B Ltd, whether the same will be disclosed in the books of A ltd??? However,in the books of B Ltd it will be disclosed because A ltd has significant influence in Bltd.
26 October 2013
Yes in A ltd it will disclosed as investments as money has already been invested though it will disclosed in notes to a/c.
29 October 2013
Thanks for the reply
Yaa but it wont be disclosed as related party transactions, please clarify if am wrong..
Yaa but it wont be disclosed as related party transactions, please clarify if am wrong..
31 October 2013
You are correct it wont be disclosed as related party transaction.
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