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.
IFRS Amendments Effective from 1 January 2014
Prepares of financial statements should be aware that there are several International Financial Reporting Standards (‘IFRS’) which will be effective from 1 January 2014.
Costs of Conducting Business in a New Location
An entity has moved its machines and factory equipment to a new location. How should the entity record the cost of conducting business in a new location?
Thai Financial Reporting Standards for SMEs
As previously reported, the Federation of Accounting Professions (“FAP”) is currently preparing new accounting standards in accordance with International Financial Reporting Standards for Small and Medium-sized Entities (2009).
IFRS Foundation Launches eIFRS Web Application.
In September, the International Financial Reporting Standards (IFRS) Foundation launched a new web application. This is a beta release that is available for all registered users.
Thai GAAP and IFRS Convergence – Status Update
The Federation of Accounting Professions in Thailand (“FAP”) and Thai Securities and Exchange Commission (“SEC”) is following a program to converge Thai Accounting Standards (“TAS”) with International Financial Reporting Standards (“IFRS”).