{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/850/10/#10-objectives","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"850","topic_title":"Related Party Disclosures","subtopic":"850-10","subtopic_title":"Overall","section":{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"850-10-10-1","para":"10-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EC006BCB-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Information about transactions with <a href=\"/glossary/r/#related-parties\" class=\"term\" title=\"Related parties include: Affiliates of the entity Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity Trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management Principal owners of the entity and members of their immediate families Management of the entity and members of their immediate families Other parties with which the entity may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.\"><span>related parties</span></a> that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. </span></span><span class=\"sfragment\" id=\"sfr_EC006CBE-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Therefore, this Topic establishes requirements to disclose certain significant related party transactions and <a href=\"/glossary/c/#control\" class=\"term\" title=\"The possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an entity through ownership, by contract, or otherwise.\"><span>control</span></a> relationships. Relevant information is omitted if the disclosures required by this Topic are not made. </span></span></div></div>","snippet":"Information about transactions with related parties that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Therefore, this Topic esta…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b67aa832b9e35462d8c534b3f5a260d03bcaf2ff2f18ad66a9a9aed26c3a02a","downloaded_from":"2026-09-10T02:02:21.850Z","last_downloaded_at":"2026-09-10T02:02:21.850Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483402","source_sha256":"dee73d12625db64e14215218b6a40a2964ff4e2b34bfab961bca008b9c410690"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f579813f2c0fa114291c30b3d93177de66615c950358cdd87d13d48a07384081","downloaded_from":"2026-09-10T02:02:21.850Z","last_downloaded_at":"2026-09-10T02:02:21.850Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483402","source_sha256":"dee73d12625db64e14215218b6a40a2964ff4e2b34bfab961bca008b9c410690"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d9d4c964442db1df990f9e4b7bfdeffb37f04b6930e47efc0d94929ca500d145","downloaded_from":"2026-09-10T02:02:21.850Z","last_downloaded_at":"2026-09-10T02:02:21.850Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483402","source_sha256":"dee73d12625db64e14215218b6a40a2964ff4e2b34bfab961bca008b9c410690"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d9d4c964442db1df990f9e4b7bfdeffb37f04b6930e47efc0d94929ca500d145","downloaded_from":"2026-09-10T02:02:21.850Z","last_downloaded_at":"2026-09-10T02:02:21.850Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483402","source_sha256":"dee73d12625db64e14215218b6a40a2964ff4e2b34bfab961bca008b9c410690"}}