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 defers effective date of amendments to IAS 1
On 15 July 2020, the IASB published an amendment to the amendments to IAS 1. It defers by one year the effective date of these amendments, which relate to the classification of liabilities as current or non-current.
Recognition of other costs
Under Thai Financial Reporting Standards, how do you account for the other costs associated with acquiring property, plant and equipment in a business transfer agreement?
Issuer’s fair disclosure about COVID-19 impacts
On 29 May, IOSCO (the International Organization of Securities Commissions, which brings together market regulators such as ESMA, the European Securities and Markets Authority) issued a press release encouraging preparers of financial statements to publish fair disclosure on the impacts of the COVID-19 crisis.
Agenda decision on accounting for deferred tax
The IFRS IC received a request about how an entity, in its consolidated financial statements, should account for deferred tax related to its investment in a subsidiary when profits are taxable only when distributed (i.e. only the group’s distributed profits are taxed; profit distributions that have already been taxed once at the subsidiary level are not taxed again at the parent company level).
Agenda decision on sale-and-leaseback transactions
The IFRS Interpretations Committee (IFRS IC) received a request about the accounting treatment of sale-and-leaseback transactions with variable payments.