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.
TFRS 15, ‘Revenue from contracts with customers’
A new Thai Financial Reporting Standard, TFRS 15, ‘Revenue from contracts with customers’, has been issued and will be applied to accounting periods beginning on or after 1 January 2019 (early adoption is permitted).
TFRS 16 Leases
The August 2018 newsletter of the Federation of Accounting Professions (“FAP”) has stated that the Government Gazette is set to announce a tentative draft of TFRS 16, and this standard will be effective for annual reporting periods beginning on or after 1 January 2020.
TFRS 2, ‘Share-based Payment’
Accounting for share-based payments under TFRS 2 is complex. In this article we look at one common scenario involving a performance related share incentive granted to the company’s management.
Delay in effective date of TFRS 9, ‘Financial Instruments’
On 17 July 2018, the Federation of Accounting Professions (“FAP”) announced that the effective date for applying the new financial instruments standard, TFRS 9, has been postponed from 1 January 2018 to 1 January 2020.
Capitalising Borrowing Costs
What is the accounting treatment when an entity incurs further costs on existing fixed assets? When should it be expensed and when can it be capitalized?