Document ID: chunk:federal_register_of_legislation:F2025C00209:front:0:p48
Version: federal_register_of_legislation:F2025C00209
Segment Type: other
Provision Reference: 
Character Range: 145021–148705

the reporting entity and the other entity.
     However, the entity must still disclose a parent-subsidiary relationship as required by paragraph 192. [IFRS for SMEs Standard paragraph 33.11]

      1.                  The following are examples of transactions that shall be disclosed if they are with a related party:
           1.                    purchases or sales of goods (finished or unfinished);
           2.                    purchases or sales of property and other assets;
           3.                    rendering or receiving of services;
           4.                    leases;
           5.                    transfers of research and development;
           6.                     transfers under licence agreements;
           7.                    transfers under finance arrangements (including loans and equity contributions in cash or in kind);
           8.                    provision of guarantees or collateral;
           9.                     settlement of liabilities on behalf of the entity or by the entity on behalf of another party;
          10.                     participation by a parent or subsidiary in a defined benefit plan that shares risks between group entities; and
          11.                    commitments to do something if a particular event occurs, or does not occur in the future, including executory contracts[32] (recognised or unrecognised).
          [Based on IFRS for SMEs Standard paragraph 33.12]

      1.                  An entity shall not state that related party transactions were made on terms equivalent to those that prevail in arm's length transactions unless such terms can be substantiated. [IFRS for SMEs Standard paragraph 33.13]
      2.                  An entity may disclose items of a similar nature in the aggregate except when separate disclosure is necessary for an understanding of the effects of related party transactions on the financial statements of the entity. [IFRS for SMEs Standard paragraph 33.14]

Biological Assets[33]

Disclosures – fair value model
      1.                  An entity shall disclose the following with respect to its biological assets measured at fair value:
           1.                    a description of each class of its biological assets.
           2.                    the methods and significant assumptions applied in determining the fair value of each category of agricultural produce at the point of harvest and each category of biological assets.
           3.                    a reconciliation of changes in the carrying amount of biological assets between the beginning and the end of the current period. The reconciliation shall include:
                1.                      the gain or loss arising from changes in fair value less costs to sell;
                2.                    increases resulting from purchases;
                3.                  decreases resulting from harvest;
                4.                  increases resulting from business combinations;
                5.                    net exchange differences arising on the translation of financial statements into a different presentation currency and on the translation of a foreign operation into the presentation currency of the reporting entity; and
                6.                  other changes.
          This reconciliation need not be presented for prior periods.

[IFRS for SMEs Standard paragraph 34.7]

Disclosures – cost model
      1.                  An entity shall disclose the following with respect to its biological assets measured using the cost model:
           1.                    a description of each class of its biological