Question：Under IAS 24 transactions between the reporting entity and certain other types of entities are excluded from the disclosure requirements.
Which of the following transactions would need to be disclosed under IAS 24?
(Assume all are material.)
A. A loan from Midwest Bank secured against machinery.
B. Arrangements entered into by the production director of the reporting entity to provide a review of the production facilities of a company controlled by his brother. The service will be provided at a full commercial price.
C. A collective wages agreement with the main trade union employees belong to.
D. Sponsorship for an industrial training programme agreed with the Mid Eastern Training and Enterprise Council.
The correct answer is: Arrangements entered into by the production director of the reporting entity to provide a review of the production facilities of a company controlled by his brother. The service will be provided at a full commercial price.
解析：This is a related party transaction with a close family member of a presumed related party under IAS 24.
The fact that a full price has been charged is irrelevant, all material related party transactions must be disclosed.
Trade unions in the normal course of their activities are not related parties (unless they have the capacity to control the entity).
Providers of finance and government departments and agencies are also deemed not to be related parties.
　　高顿网校温馨提醒
　　各位考生，2016年ACCA备考已经开始，为了方便各位学员能更加系统地掌握考试大纲的重点知识，帮助大家充分备考，体验实战，高顿网校开通了全免费的ACCA题库（包括精题真题和全真模考系统），题库里附有详细的答案解析，学员可以通过多种题型加强练习。戳这里进入ACCA免费题库>>>

微信扫一扫，关注ACCA*7资讯，满满的干货喂饱你！ACCA微信公众号：gaodunaccaACCA分享与交流QQ群：227573128 

展开全文