Accounting Section - Doing Business
Explore a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for doing business in Thailand.
Climate change considerations in Financial Reporting Standards
As climate change continues to impact business operations globally, organisations must carefully consider its effects on their financial reporting. This article examines various Thai Financial Reporting Standards (TFRS) and their application to climate-related issues in financial statements.
Revenue recognition for drop shipping fulfilment operations
The drop shipping fulfilment model was developed to address traditional online business challenges
Guideline on TFRS 5, ‘Non-current assets held for sale and discontinued operations’
This guideline was released on 31 July 2024, and aims to clarify key aspects of the standard and provide practical examples to aid in its application.
The Importance of ESG Information for non-publicly accountable entities in Thailand
In Thailand, non-publicly accountable entities are not legally required to disclose environmental, social, and governance (ESG) information in their financial statements. However, there are several compelling reasons for these entities to begin gathering and considering ESG information.
Key changes in financial statements and notes according to the TFRS for NPAEs (Revised 2022) and new DBD notification
The Thai Financial Reporting Standards for Non publicly Accountable Entities (TFRS for NPAEs) (Revised 2022) applies to financial statements prepared for fiscal years beginning on or after 1 January 2023.