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.
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.
IASB Update July 2016
“You have been living in a bit of a building site for much of the last decade. However, the good news is that the majority of the structural work is now complete. The heating and plumbing systems are now in good shape.” With these words, Hans Hoogervorst described his impression of the progress made in recent years at the start of the IFRS Foundation Conference in Zurich.
Standards applicable at 30 June 2016
To coincide with the preparation of interim financial reports, we present an overview of the IASB’s most recent publications.