International Accounting Standard 24

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August 31, 2024 4 min read Definitions
Arm's Length: Denoting a Transaction Between Unrelated Parties
Economics Finance Related Party Transactions Financial Statements International Accounting Standard 24 Fair Market Value FRS 8
An arm's length transaction refers to a deal where the buyers and sellers act independently and have no relationship to each other. Such transactions are conducted to ensure fairness in pricing and in the preparation of financial statements.
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