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.
Narrow-scope amendments to IFRS 16 to take account of COVID-19
On 27 April, the IASB published an Exposure Draft on IFRS 16 – Leases. The Exposure Draft aims to respond to the practical difficulties involved in accounting for rent concessions received or granted as a result of the COVID-19 crisis – an issue that affects many companies.
Impact of the COVID-19 pandemic on IASB work plan
In light of the COVID-19 pandemic, the IASB held a supplementary meeting on 17 April, at which it approved the following measures.
Trust units classification clarification
Amendments to IAS 1 on liabilities classification
On 23 January 2020, the IASB published narrow-scope amendments to IAS 1 – Presentation of Financial Statements. The amendments, entitled Classification of Liabilities as Current or Non-current, aim to promote consistency in classification.
IFRS 16: shipping contracts and the use of a ship
The IFRS Interpretations Committee (IFRS IC) received a submission asking whether a customer has the right to direct the use of a ship throughout the five years of a contract.