Accounting Section - Doing Business
Explore a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for doing business in Thailand.
Foreign exchange fluctuations: When accounting, tax and group reporting use different rates
24 September 2026
Foreign exchange accounting may look straightforward in theory: record the transaction, retranslate monetary items at period-end, and recognise the exchange difference.
Climate risk in financial reporting: when business conditions change, accounting assumptions should follow
27 August 2026
Climate-related risks are often discussed in the context of sustainability reporting, but their impact does not stop at ESG disclosures. When drought, flooding, extreme heat or other weather related events affect operations, costs, supply chains or customer demand, they may also affect the accounting judgements used in the financial statements.
Full TFRS, fewer notes: Understanding the opportunity under TFRS 19
23 July 2026
Some subsidiaries apply full Thai Financial Reporting Standards because their parent requires full-TFRS information for group consolidation, even though the subsidiary’s own financial statements are used by a relatively limited group of shareholders, lenders and regulators.
Key changes to TFRS 9 and TFRS 7 effective from 2027
22 June 2026
The Federation of Accounting Professions (“TFAC”) has issued draft amendments to TFRS 9 Financial Instruments and TFRS 7 Financial Instruments: Disclosures as part of Thailand’s continued alignment with IFRS Bound Volume 2026. The amendments are expected to become effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. The draft revisions were presented during TFAC’s public hearing seminar held on 19 May 2026.
Middle East conflict: Where the impact may arise in financial statements for Thai entities under TFRS
20 May 2026
Recent geopolitical developments in the Middle East are not only affecting global markets but are increasingly influencing the assumptions underlying financial statements. This may be particularly relevant for Thai entities with exposure to import dependent cost structures or export-driven demand.