TFRS Effective After 1 January 2014

The Federation of Accounting Professions (“FAP”) has finalised revising Thai Financial Reporting Standards, including: Thai Financial Reporting Standards (“TFRS”), Thai Accounting Standards (“TAS”), Thai Financial Reporting Interpretations Committee (“TFRIC”) and Thai Standing Interpretations Committee (“SIC”) in accordance with International Financial Standards (“IFRS”) Bound Volume 2012.

17 March 2014

Keywords: Mazars, Thailand, Accounting, Thai Financial Reporting Standards, TFRS, TAS, FAP, TFRIC, SIC, IFRS, Thai GAAP

Thai Financial Reporting Standards

TFRS 2

Share - Based Payments (revised 2012)

TFRS 3

Business Combination (revised 2012)

TFRS 5

Non-current Assets Held for Sale and Discontinued Operations (revised 2012)

TFRS 8

Operating Segments (revised 2012)

Thai Accounting Standards

TAS 1

Presentation of Financial Statements (revised 2012)

TAS 7

Statement of Cash Flows (revised 2012)

TAS 12

Income Taxes (revised 2012)

TAS 17

Leases (revised 2012)

TAS 18

Revenue (revised 2012)

TAS 19

Employee Benefits (revised 2012)

TAS 21

The Effects of Changes in Foreign Exchange Rates (revised 2012)

TAS 24

Related Party Disclosures (revised 2012)

TAS 28

Investments in Associates (revised 2012)

TAS 31

Interests in Joint Ventures (revised 2012)

TAS 34

Interim Financial Reporting (revised 2012)

TAS 36

Impairment of Assets (revised 2012)

TAS 38

Intangible Assets (revised 2012)

TFRIC

TFRIC 1

Changes in Existing Decommissioning, Restoration and Similar Liabilities

TFRIC 4

Determining whether an Arrangement contains a Lease

TFRIC 5

Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds

TFRIC 7

Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies

TFRIC 10

Interim Financial Reporting and Impairment

TFRIC 12

Service Concession Arrangements

TFRIC 13

Customer Loyalty Programmes

TFRIC 17

Distributions of Non-cash Assets to Owners

TFRIC 18

Transfers of Assets from Customers

SIC

SIC 15

Operating Leases-Incentive

SIC 27

Evaluating the Substance of Transactions Involving the Legal Form of a Lease

SIC 29

Service Concession Arrangements: Disclosure

SIC 32

Intangible Assets-Web Site Cost

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