The article solved the problem concerning the development and practical application of accounting policies with regards to related parties. One element of the company’s accounting policies is to establish the principles of classification of related parties and their list considering materiality relations. In addition, the company must determine its related entities for the purposes of transfer pricing. Based the criteria definition and classification of related parties, proposed that the significance of the impact of one party to another based on the content of operations, their volume, the results and how such operations significantly affect the financial, investment and commercial activities. Only an analysis of all the factors together contribute to reliable estimates list of related parties. The critical analysis are made of methods for determining transfer prices for transactions, designed piece order of accounting policies, which reflected information about related parties.
Keywords: related parties, accounting policies, significant influence, control, transfer operations.
- Kulyk V. (2014). The Accounting Policies of the Enterprise: Experience and Prospects of Development, Poltava, RVV PUET, 373 p.
- Zhukova O., Dubnytskyy V., Varenya V. (2014)Transfer Pricing: Ukrainian Variant, Kyiv, Justinian, 184 p.
- UAS 12 “Financial investments”, Ministry of Finance of Ukraine, http://minfin.gov.ua (09.22.2015).
- UAS 19 “Enterprise association”, Ministry of Finance of Ukraine, http://minfin.gov.ua (09.22.2015).
- UAS 23 “Disclosure of related parties”, Ministry of Finance of Ukraine, http://minfin.gov.ua (09.22.2015).
- IAS 28 “Investments in Associates”, Ministry of Finance of Ukraine, http://msfz.minfin.gov.ua (09.22.2015).
- Tax Code of Ukraine 02.12.2010r. №2755-VI, The Verkhovna Rada of Ukraine, http://http://zakon2.rada.gov.ua/ laws/show/2755-17/page (09.22.2015).
- Tseluyko O. (2015). Related Parties: Definition and Display in the Accounting Policy of the Enterprise, Library Balance, No. 13, pp.31–36.
- Nekhili M., Cherif M. (2011). Related parties transactions and firm’s market value: the French case, Review of Accounting and Finance, Vol. 10, Issue 3, pp.291–315. DOI: http://dx.doi.org/10.1108/14757701111155806