Asked by: Arsen Lussenbusiness and finance mergers and acquisitions
What is included in key management personnel compensation?
Last Updated: 4th March, 2020
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Thereof, what are key management personnel?
Key management personnel are those people having authority and responsibility for planning, directing, and controlling the activities of an entity, either directly or indirectly. This designation typically includes the following positions: Board of directors.
One may also ask, what is included in directors remuneration disclosure? In terms of the Companies Act, 2008 companies should provide full disclosure of each individual executive and non-executive director's remuneration in the Annual Financial Statements of the company, giving details as required in the Act of base pay, bonuses, share-based payments, granting of options or rights,
Just so, what is considered a related party in accounting?
A related party is a person or an entity that is related to the reporting entity: A person or a close member of that person's family is related to a reporting entity if that person has control, joint control, or significant influence over the entity or is a member of its key management personnel.
Do you need to disclose directors remuneration under FRS 102?
Directors' remuneration requires disclosure under section 1A of FRS 102 if it comprises a material transaction which has 'not been concluded under normal market conditions' (paragraph 1AC. That sort of arrangement can be seen as being normal market conditions and hence no disclosure is needed.