Metodološki aspekti objelodanjivanja informacija o povezanim stranama u napomenama uz finansijske izvještaje
Methodological Aspects of Disclosure of Information About Related Parties in Notes to Financial Statements

Summary/Abstract: The operation of business entities within a group of related parties provides numerous advantages such as the stability of the sale of products and services, security regarding the provision of necessary inputs for the performance of business activities, diversification of business risks, realization of business transactions under preferential conditions and the like. The specifics of the realization of business transactions between related parties can have an effect on the financial results, and accordingly it is necessary to adequately report on the relationships and realized transactions between related parties. International Accounting Standard 24 defines a series of disclosures that related parties should make. Adequate reporting on relationships and transactions between related parties provides an adequate information base for business decision-making by numerous users such as company owners, management, potential investors, the state and others. The paper presents the methodological aspects of reporting on related parties in accordance with the requirements of professional regulations. Compliance with the requirements of IAS 24 regarding related parties reporting increases the quality of financial statements and reduces the risk of inadequate business decision-making

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