The Haw Par Affair And The Reporting Of Related Party Transactions.

It is generally recognised that managers are concerned with how transfer prices should be determined. This paper deals with an extension of this concern, namely, how transactions between related parties should be reported In published financial statements. The mode of reporting Is regulated by national accounting standard which are in turn strongly influenced by the standards issued by the International Accounting Standards Committee. This paper examines the proposed international Accounting Standard on Related Party Transactions by applying the standard hypothetically to the facts of a major court case on the subject. [ABSTRACT FROM AUTHOR]

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