148As minimum, the disclosures of related party transaction shall include:•The amount of the transaction.•The amount of outstanding balance, terms and conditions, whether secured orunsecured, and nature of consideration to be provided in settlement.•The allowance for doubtful accounts related to the outstanding balance.•The doubtful accounts expense recognized during the period in respect of amount duefrom related parties.Key management personnel compensationPAS 24, paragraph 16, provides that an entity shall disclose key management personnelcompensation in total and for each of the following categories:•Short-term employee benefits•Postemployment benefits, for example, retirement pensions•Other long-term benefits•Termination benefits•Share based payment transactions, for example, share optionsRelated party disclosures not requiredPAS 24, paragraph 3, requires disclosure of related party transactions and outstandingbalances in the separate financial statements of a parent, subsidiary, associate or venturer.However, Paragraph 4 provides that intragroup related party transactions and outstandingbalances are eliminated in the preparation of consolidated financial statements of the group.Unrelated partiesUnrelated parties include the following:•Two entities simply because they have a director or key management personnel incommon.•Providers of finance, trade unions, public utilities and government agencies in thecourse of their normal dealings with an entity by virtue only of those dealings.•A single customer, supplier, franchisor, or general agent with whom an entity transactsa significant volume of business merely by virtue of the resulting economic dependence.•Two venturers simply because they share joint control over a joint venture.
