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.
Proposed amendments to IAS 8
On 27 March, the IASB published proposed narrow-scope amendments to IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.
IASB publishes narrow-scope amendment to IAS 19
The IASB has published a narrow-scope amendment to IAS 19 - Employee benefits on the impacts of a plan amendment, curtailment or settlement on the determination of service cost and net interest.
First TRG meeting on the introduction of IFRS 17
On 6 February 2018, the IASB organised the first working session of the transitional resource group (TRG), set up to discuss the introduction of IFRS 17 – Insurance contracts.
Accounting consequences of the US tax reforms
In order to avoid the risk of inconsistent application of the US tax reform by European listed companies, or the taking of too many liberties with IAS 12 using the US Act as a pretext, the European Securities and Markets Authority (ESMA) decided to publish a Public Statement on 26 January, entitled Accounting for Income Tax consequences of the United States Tax Cuts and Jobs Act under IFRS.
2015-2017 IFRS Improvements
On 12 December 2017, the IASB published the 2015–2017 Cycle of improvements to IFRSs, bringing amendments to IFRS 3 – Business Combinations, IFRS 11 – Joint arrangements, IAS 23 – Borrowing Costs, and IAS 12 – Income taxes.