IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
Publication of IFRS 18 Presentation and Disclosure in Financial Statements
Published on 9 April 2024, IFRS 18 will replace the existing standard on the presentation of financial statements, IAS 1, and will amend several other standards, including IAS 7 Statement of Cash Flows and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
Climate-related and other uncertainties in the financial statements
The IASB’s April meeting discussed its project on climate-related and other uncertainties in the financial statements, which aims to examine how, through targeted actions, the IASB could help to improve the presentation of information on such issues.
IFRS IC confirms its position on payments contingent on continued employment following a business combination (IFRS 3)
In April 2024, the IASB approved the IFRS IC‘s March decision on how an entity should account for payments to the sellers of a business it has acquired if those payments are contingent on the sellers’ continued employment during a post-acquisition handover period.
Publication of IFRS IC decision on climate related commitments (IAS 37)
In April 2024, the IASB approved the decision taken in March by the Interpretations Committee (IFRS IC) on the application of IAS 37 to an entity’s commitments to reduce or offset its future greenhouse gas (GHG) emissions, otherwise known as net zero transition commitments.
Closing document of the BCUCC project published by the IASB
On 17 April 2024, the IASB published a document (available here) summarising the Business Combinations under Common Control (‘BCUCC’) project and setting out the reasons for its discontinuation.