Related party transactions are often the most difficult for accountants and auditors to manage due to these transactions not being separately identified when transaction activity takes place. Related party transactions are often used to commit fraud and more often are simply hidden by management because they do not want third parties to be aware of these transactions. This program will identify the accounting and disclosure guidance associated with related party transactions (ASC 850), address form over substance-related party transactions, provide examples of related party frauds, and describe best practices for identifying undisclosed related party transactions. Related party disclosures will also be addressed.
Course ID: RPT2
Related Party Transactions – A Recurring Issue
- Participants will be able to identify, account, and disclose related party transactions.
- A closer look at related party transactions and the related accounting guidance
- Related party frauds
- Best practices, related party disclosures
DESIGNED FORAccountants in public practice and industry.
FIELD OF STUDY