DEZVOLTARI PRIVIND RAPORTAREA FINANCIARA PENTRU PARTILE LEGATE /
DEVELOPMENT OF RELATED PARTY DISCLOSURES

Prof. univ. dr. Raileanu Vasile – A.S.E. Bucuresti (raileanu_vs@yahoo.com)

Abstract: The group’s consolidated financial statements includes those entities that the
parent entity controls, all joint ventures where the parent has joint control and all associates where
the parent exercises significant influence. IFRS specify the levels of ownership that are presumed to
convey control or significant influence to a parent or investor, but these must be supported by facts.
Parties are related if one has control or significant influence over the other. Significant
influence is relevant when it relates to financial or operating decisions. The existence of cont rol or
influence can affect the terms on which the two parties transact. An understanding of the
relationship and the terms on which two related parties have transacted is therefore relevant in
understanding an entity’s financial statements.

       Keywords: IFRS, group’s consolidated financial statements.

       JEL Codes: M41