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 Update – February 2017
After a pause of several months, the IASB has started the year by presenting its annual improvements in a short exposure draft, with the next consultations expected as of April.
IASB issues amendments to IAS 40
On 8 December 2016, the IASB published amendments to IAS 40 – Investment Property. The changes clarify when an entity must transfer a property asset to (or from) the ‘investment property’ category.
Annual Improvements cycle 2014-2016 published
On 8 December 2016, the IASB published the Annual Improvements to IFRS Standards 2014-2016 Cycle. This makes minor changes to the following standards:
IFRIC 22 interpretation published
On 8 December 2016, the IASB published IFRIC 22 – Foreign Currency Transactions and Advance Consideration. This interpretation clarifies the accounting treatment of foreign currency transactions, including the payment or receipt of advance consideration. It includes illustrative examples.
Publication of amendments to IFRS 3 and IFRS 11
On 29 June, the IASB published draft amendments to IFRS 3 – Business combinations, and IFRS 11 – Joint arrangements, with a closing date for comments of 31 October.