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.
Amendments to IFRS 16 – Lease liability in a sale and leaseback
On 22 September, the IASB published the amendments to IFRS 16 – Lease Liability in a Sale and Leaseback. These amendments clarify the subsequent measurement of sale and leaseback transactions where the initial sale of the underlying asset meets the IFRS 15 criteria for recognition as a sale. In particular, these amendments clarify the subsequent measurement of the lease liability arising from these transactions where there are variable lease payments that do not depend on an index or rate.
New IASB appointments
On 30 September, the Trustees of the IFRS Foundation announced the appointment of Patrina Buchanan and Hagit Keren as members of the IASB for a five-year term, representing Europe and Asia-Oceania respectively.
Proposed amendments to IFRS 9 on the SPPI test for debt assets
At its September meeting, the IASB continued its redeliberations on potential amendments to be made to IFRS 9 as part of the first phase of the Post-implementation Review (PiR) of IFRS 9.
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.