AASB 124 definition

AASB 124. : means the Australian Accounting Standards Board, Related Party Disclosures Standard.
Sample 1Sample 2Sample 3
AASB 124. - means the Australian Accounting Disclosures Standard.
Sample 1Sample 2

Examples of AASB 124 in a sentence

  • As a result the company now only discloses the key management personnel compensation in total and for each of the categories required in AASB 124.

  • AASB 2011-4 removes the individual key management personnel disclosure requirements in AASB 124 Related Party Disclosures.

  • The adoption of the revised AASB 124 Related Party Disclosures has not resulted in the disclosure of any additional related party transactions in the current period or any prior period and is not likely toaffect future periods.

  • In December 2009 the AASB issued a revised AASB 124 Related Party Disclosures.

  • Individuals may be specifically identified, if the disclosure requirements of AASB 124 so demands.

  • The Group has applied AASB 124 Related Party Disclosures which allows certain remuneration details to be disclosed in the Directors’ Report rather than the financial report so as to avoid duplication of information.

  • The objective of AASB 124 “is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances, including commitments, with such parties”.

  • The Australian Accounting Standards Board has determined that from 1 July 2016, AASB 124 (Related Party Disclosures) will apply to government entities including local governments.

  • Materiality thresholds are reviewed annually as part of the audit process and reported related party disclosures will be in compliance with the framework of the Australian Accounting Standard AASB 124 and other relevant standards, as required.

  • This procedure outlines required mechanisms to meet the disclosure requirements of AASB 124.

Related to AASB 124

  • NI 52-110 means National Instrument 52-110 – Audit Committees.

  • NI 31-103 means National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations;

  • Sewage sludge weight means the weight of sewage sludge, in dry U.S. tons, including admixtures such as liming materials or bulking agents. Monitoring frequencies for sewage sludge parameters are based on the reported sludge weight generated in a calendar year (use the most recent calendar year data when the NPDES permit is up for renewal).