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.
ED of disclosures on supplier finance arrangements
On 26 November, the IASB published an Exposure Draft (ED), available here, which aims to address investors’ information needs regarding supplier finance arrangements, such as reverse factoring and similar arrangements.
Primary Financial Statements project
At its December meeting, the IASB continued its redeliberations on the Primary Financial Statements project. It is already two years since the publication of the General Presentation and Disclosures Exposure Draft, and one year since the Board began its redeliberations on this major project. Eventually, IAS 1 – Presentation of Financial Statements will be replaced by a new IFRS standard, while narrower-scope amendments will be made to IAS 7 – Statement of Cash Flows.
Ongoing IASB deliberations on the presentation of financial statements
During its October meeting, the IASB continued to redeliberate the proposals in the December 2019 exposure draft primarily focusing on the replacement of IAS 1 on the presentation of the financial statements.
Fifth compilation of IFRS IC agenda decisions
On 28 October 2021, the IFRS Foundation published the fifth compilation of IFRS Interpretations Committee (IFRS IC) agenda decisions, taken between April and October 2021.
IFRS IC on the accounting treatment of warrants
Following approval by the IASB in October, the IFRS IC published its final decision on the accounting treatment of warrants classified as financial liabilities on initial recognition. The request asked whether the issuer could subsequently reclassify the warrant as an equity instrument.