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Get the free Disclosure on Related Party Transactions

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FLEX FOODS LIMITED rd305, 3 Floor, Bhanot Cornner, Pamposh Enclave, Greater Kailash I, New Delhi 110 048, India Phone : +911126440917, 26440925, Fax : +911126216922, Email: secretarial@uflexltd.com
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How to fill out disclosure on related party

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How to fill out disclosure on related party

01
Identify all related parties involved in the transaction or relationship.
02
Determine the nature of the relationship or transaction with each related party.
03
Disclose all relevant information about the related parties in the appropriate section of the disclosure document.
04
Provide any additional explanation or context necessary to understand the nature of the related party relationships.

Who needs disclosure on related party?

01
Companies that are required to file financial reports with regulatory agencies.
02
Investors and stakeholders who need transparency and clarity on the relationships between a company and its related parties.
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Disclosure on related party refers to the requirement for companies to reveal transactions and relationships with parties that are related to them, such as subsidiaries, affiliates, or other entities with significant influence over the company's financial decisions.
Companies that prepare financial statements in accordance with applicable accounting standards, including public companies, private companies, and entities involved in significant transactions with related parties are required to file disclosures.
To fill out disclosure on related party, companies must identify related parties, describe the nature of the relationships, detail transactions that occurred during the reporting period, and assess any amounts involved in these transactions.
The purpose of disclosure on related party is to promote transparency and accountability in financial reporting, enabling stakeholders to evaluate the potential impact of related party transactions on the company's financial position.
The information reported must include the identity of the related parties, the nature of the relationships, the types of transactions, amounts involved, and terms and conditions of the transactions.
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