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.

Progress report on Goodwill and Impairment project

At the start of September 2019, the IASB published a progress report on its Goodwill and Impairment project on its website. This project was launched following the Post-implementation Review of IFRS 3 – Business Combinations. Readers will remember that the aim of the project is to investigate how companies could provide better information on business combinations, at a reasonable cost.

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Determining incremental borrowing rate under IFRS 16

Readers will remember that lessees shall use their incremental borrowing rate to measure a lease liability when the interest rate implicit in the lease cannot be readily determined (IFRS 16.26).

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Key points of the ED on amendments to IFRS 17

The IASB published an exposure draft (ED/2019/4 Amendments to IFRS 17) on 26 June 2019, proposing amendments to the insurance contracts standard.

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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.

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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.

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