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Unformatted text preview: acquisition of materials or merchandise or services company conducts seminar at a facility of related party company contracts with food service of related party. Loans to and from family Related Party Transactions Why do we need to identify related parties? Standards require disclosure What disclosures must be made? • nature of relationship • adequate description of transaction • dollar volume • amounts owed to or due from related party Why are these disclosures necessary? presumption that transaction makes economic sense should not be a assumed agency problems could cause group of...
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- Fall '08
- arms length transaction