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.
Accounting for earnings per share
Assistance to debtors affected by COVID-19
The guidance, published in the Royal Gazette on 22 December 2021, addresses the temporary relaxation of measures for entities providing assistance to debtors affected by COVID-19 for the period from 1 January 2022 to 31 December 2023, or until the Bank of Thailand makes changes to such measures which must be complied with.
Notification on amendments to the Thai Financial Reporting Standards
The Federation of Accounting Professions issued a notification on amendments to the Thai Financial Reporting Standards (“TFRS”), which was published in the Royal Gazette on 22 December 2021.
IAS 19: Employee benefits
In January 2022, the Thai Federation of Accounting Professions’ committee issued its newsletter for 2021. This newsletter included an article on attributing a benefit to periods of employment for a former employee under IAS 19.
Initial measurement of property, plant, and equipment
Paragraphs 126 to 127 of the Thai Financial Reporting Standards for Non-publicly Accountable Entities (“TFRS for NPAEs”) and the Thai accounting manual of the Thailand Federation of Accounting Professions in regard to property, plant, and equipment (“PPE”), state the following: