2024 Financial Accounting for Related Party Transactions

Loans, rental agreements, business combinations – what do these all have in common? They all have the potential of creating a related party transaction.  This program presents a detailed analysis of the financial accounting rules for transactions with related parties, as well as compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities.

Presented by Kelly Simants

• Delivery Format: Live Webcast Replay

CPAs working in public accounting firms and members in industry

• Identify the financial accounting rules for related parties and how they impact accounting transactions

• FASB codification provisions for transactions with related parties, including business owners and special purpose entities
• Compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities
• Reviews the tax accounting related taxpayer standards
• Several real-life situations illustrate the various authoritative standards and discuss the consequences of failing to comply with those standards

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