Wiley GAAP: Financial Statement Disclosure Manual

59ASC 850 RELATED-PARTY DISCLOSURES

1. Authoritative Literature
   1. Subtopic
   2. Scope
2. Practice Alert
3. Presentation and Disclosure Requirements
4. Presentation and Disclosure Examples
   1. Example 59.1: Accounting Policy for Related‐Party Transactions
   2. Example 59.2: Related‐Party Transaction
   3. Example 59.3: Accounting Policy for Related‐Party Transactions
   4. Example 59.4: No Material Related‐Party Transactions
   5. Example 59.5: References to Other Notes
   6. Example 59.6: Related‐Party Debt Schedule
   7. Example 59.7: Related‐Party Revenue
   8. Example 59.8: Related‐Party Accounts Receivable
   9. Example 59.9: Related‐Party Accounts Payable
   10. Example 59.10: Schedule of Related‐Party XYZ Agreements with Note References
   11. Example 59.11: Related‐Party Joint Venture

AUTHORITATIVE LITERATURE

Subtopic

ASC 850 contains one Subtopic:

• ASC 850‐10, Overall, which sets forth the disclosure requirements, certain significant related‐party transactions, and control relationships

Scope

ASC 850 applies to all entities.

PRACTICE ALERT

While non‐SEC filers are not subject to SEC comments, those comments can provide valuable guidance and cautions. In the area of financial instruments, the SEC staff has asked preparers to:

• Explain how the entity determined transactions could not be clearly identified as related‐party
• Include a discussion regarding the use of advisors in the related‐party discussions

PRESENTATION AND DISCLOSURE REQUIREMENTS

According to ASC 850, Related‐Party Disclosures, financial statements are required to disclose ...