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 published on Disclosure of Accounting Policies
On 1 August 2019, the IASB published an exposure draft of proposed amendments to IAS 1 – Presentation of Financial Statements and Practice Statement 2 – Making Materiality Judgements. The amendments relate to the disclosures required on entities’ accounting policies.
IFRS applied to holdings of cryptocurrencies
The IFRS IC has now clarified how IFRS standards are to be applied to holdings of cryptocurrencies meeting the three characteristics.
IFRS 15 agenda decision on cost recognition
In June 2019 the IFRS IC published an agenda decision reiterating the principles of IFRS 15 on the distinction between the costs incurred by an entity which relate directly to the transfer of a good or service to the customer, and the costs which are necessary to fulfil the contract but which do not in themselves transfer a good or service to the customer.
Classification of a post-employment benefit
The IFRS Interpretations Committee (IFRS IC) received a request about the classification of a post-employment benefit plan.
Subsurface rights and IFRS 16
The IFRS Interpretations Committee (IFRS IC) received a request about a particular contract for subsurface rights granted to a pipeline operator (the customer) for the installation of a pipeline in exchange for consideration.