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.
IASB publishes work plan priorities for 2022-2026
Redeliberations continue on Primary Financial Statements project
At its July 2022 meeting, the IASB continued its redeliberations on the proposals in the December 2019 General Presentation and Disclosures exposure draft, in the wake of comments received from stakeholders.
IFRS IC agenda decision on SPACs: classification of public shares as financial liabilities or equity
In July 2022, the IFRS IC published a final agenda decision (available here and now approved by the IASB) on whether public shares issued by a SPAC (Special Purpose Acquisition Company) should be classified as financial liabilities or equity. A SPAC is an ad hoc entity created by its founders to raise capital through an initial public offering, for the purposes of acquiring a target company within a time frame specified from the outset (e.g. 18 months).
IFRS IC agenda decision on transfer of insurance coverage under a group of annuity contracts
At the IASB’s July meeting, it also ratified the agenda decision reached by the IFRS IC in June (available here) on methods for determining the amount of revenue to be recognised on immediate annuity contracts.
IFRS IC agenda decision on negative low emission vehicle credits
The IFRS Interpretations Committee (IFRS IC) has published a final agenda decision (available here) on government measures to encourage reductions in vehicle CO2 emissions. It was ratified by the International Accounting Standards Board (IASB) in July.