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.
Amendments in Thai Financial Reporting Standards
The FAP has announced amendments to Thai Financial Reporting Standards covering accounting for troubled debt restructurings, non-current assets held for sale and discontinued operations and the guideline for accounting for lease rights.
Practice in Transition Period of TFRS for NPAEs
The Federation of Accounting Professions (‘FAP’) has launched three announcements with regards to Thai Financial Reporting Standards (‘TFRS’). This is the second amendment and further clarifies the accounting treatment on transition to TFRS for NPAEs.
Additional Requirements in Applying TFRS for NPAEs
The Federation of Accounting Professions (‘FAP’) has launched three announcements with regards to Thai Financial Reporting Standards (‘TFRS’).
TFRS for NPAEs - Provision for Severance Payments
Under the Thai Labor Protection Act of 1998, companies are required to pay legal severance payments (‘LSP’) to employees who leave employment at their retirement age, or are terminated by the companies without cause.