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.
Proposed amendments to IAS 32 on instruments containing obligations for an entity to redeem its own equity instruments
In September 2022, the IASB continued its redeliberations on the Financial Instruments with Characteristics of Equity (FICE) project. Readers will remember that the aim of this project is to clarify the principles set out in IAS 32, to address issues around practical application, and to improve disclosures in the notes
Redeliberations continue on Goodwill and Impairment project
At its September 2022 meeting, the IASB re-examined the preliminary proposals for improving disclosures on business combinations that were put forward in its Goodwill and Impairment discussion paper (which is the stage prior to an exposure draft) and reached a number of tentative decisions.
Redeliberations continue on Primary Financial Statements project
At its September 2022 meeting, the International Accounting Standards Board (IASB) continued its redeliberations on the proposals in the December 2019 General Presentation and Disclosures exposure draft.
IASB and ISSB update – September 2022
In September 2022, the IASB issued amendments to IFRS 16 on leases to clarify the subsequent measurement of a lease liability arising from sale and leaseback transactions where the lease payments are variable and not dependent on an index or rate. As requested by stakeholders, the IASB has ultimately provided no clarification on how to measure the proportion of the seller-lessee's retained interest in the asset.
New appointment to IFRS Interpretations Committee
On 15 July, the IFRS Foundation announced the appointment of Ms Yanli Liu to the IFRS Interpretations Committee (IFRS IC). She replaces Zheng Yang, whose second and final term ended on 30 June 2022.