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.
The IASB Updated Work Plan
At the end of its October meeting, the IASB updated its work plan.This included the postponement of the publication of the Leases standard, now expected in the second half of 2015 (rather than at the end of 2014); and he postponement of the publication of the Disclosure Initiative Discussion Paper, now expected in Q2 2015 (rather than Q1).
Leases: Further Deliberations
The IASB and the FASB are continuing to deliberate the proposals in the May 2013 Exposure Draft Leases. Final publication is now expected in the second half of 2015.
Improvements to IFRSs – 2012-2014 Cycle
On 25 September the International Accounting Standards Board (‘IASB’) published the final text of Annual Improvements to IFRSs 2012–2014 Cycle.
IASB Finally Publishes IFRS 9
On 24 July 2014 the IASB finalised its project for the replacement of IAS 39 on financial instruments by issuing the full version of IFRS 9.
Bearer Biological Assets
In September 2012, the IASB included in its work plan a limited-scope improvement to IAS 41 on the grounds that this standard, under which biological assets are measured at fair value, posed problems in the case of bearer biological assets (grape vines, rubber trees, oil palms, etc.).