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.
Uncertain tax positions
The IFRS IC has decided to draw up an interpretation on the accounting treatment of uncertainty over income taxes (as defined in IAS 12).
Application of materiality to financial statements
As part of its ‘Disclosure Initiative’, the IASB is seeking comments on its draft ‘Practice Statement’ on the application of materiality to financial statements. The Practice Statement was published on 28 October 2015.
Effective date of IFRS 16 tentatively set
At its October meeting, the IASB (tentatively) decided to set the effective date of the IFRS 16 – Leases standard at 1 January 2019.
IASB proposals to clarify IFRS 15
The IASB issued an exposure draft in order to clarify a number of provisions in IFRS 15, Revenue Recognition.
Deferral of IFRS 15 mandatory effective date
As reported previously, the IASB recently published an exposure draft proposing a one-year deferral of the mandatory effective date of IFRS 15.