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Our company is in the retail business and the employees of the company are also entitled to purchase from company outlets at subsidized prices. Do these translations make related party transactions and required disclosure as per IAS 24?
in IAS 24 - Related Party Disclosures by

2 Answers

+1 vote
Transactions with employees in the normal course of the business does not constitute a related party transactions unless with key management personnel. In your case, as I understand, the said transactions are not related party transactions as per IAS 24.
0 votes
Although your transactions may not come under IAS 24, if you are selling at lower price than the regular market price, you will have to recognize a deferred revenue for the revenue you have forgiven on translations with the employees because revenue has to be measured at the fair value of the consideration received or receivable as per IAS 18.
by Level 1 Member (2.5k points)