Las operaciones vinculadas y las operaciones cooperativizadas bajo normas internacionales de información financiera. Reflexiones para el marco contable español.

The question of considering a cooperative's transactions with its members in pursuance of its objects (its 'cooperativised activity') to be related party transactions and applying the fair value criterion to them has given rise to some debate in Spain. To move the debate forward, this article first studies the related party rules in the IFRS, the US GAAP and the Spanish PGC-2007 accounting standards then examines the economic background to cooperativised transactions, concluding that the fair value criterion is not appropriate in these cases. It continues with an empirical study of information on related party transactions divulged by cooperatives and the valuation criterion employed in transactions with their members by cooperatives that report in accordance with IFRS, and concludes by comparing the results of the empirical study with the previous analytical study. The main contributions of this paper are that to the best of our knowledge this is the first study of this kind on related parties; the comparison between its conclusions and the recent Normas sobre los Aspectos Contables de las Sociedades Cooperativas or Rules on Accounting Aspects of Cooperative Societies (Order EHA/3360/2010); and the suggestions to the accounting regulators for improving financial information. [ABSTRACT FROM AUTHOR]