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.
Amendment to IAS 1
On 10 February 2015 the IASB published an exposure draft aiming to clarify the criteria for classifying liabilities as either current or non-current on the balance-sheet. This exposure draft takes the form of a limited draft amendment to IAS 1 – Presentation of Financial Statements.
Deferral of Effective Date for the Revenue Standard
At a meeting on 1 April 2015, the FASB (tentatively) decided to defer the effective date of Topic 606 by one year.
Financial Statement Presentation Project
Faced with the ever-increasing volume of financial statements and particularly of disclosures in the notes, a number of stakeholders (accounting standard setters, market authorities and accounting professionals) looked into this subject between 2007 and 2013.
IAS 12 – Uncertain tax positions
In January 2014, the IFRS IC considered a request for guidance on the recognition of a current tax asset (in the sense of IAS 12) when the tax position was uncertain.
IASB Proposes Three Amendments to IFRS 2
On 25 November, the IASB published the exposure draft ED/2014/5 Classification and Measurement of Share-based Payment Transactions putting forward three amendments to IFRS 2 Share-based payment.