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.
TFRS16: Accounting for Sale and Leaseback Transactions
For the period ending on or after 1 January 2025, TFRS 16 requires entities that enter into sale and leaseback contracts to measure lease liabilities and right-of-use assets using expected lease payments, which include variable lease payments.
Changes to Amortisation of Goodwill under TFRS for NPAEs
The Thai Financial Reporting Standards for Non-Publicly Accountable Entities (TFRS for NPAEs) were revised in 2022, bringing about significant changes to the accounting treatment of goodwill.
Enhancing Financial Clarity: TAS 1 Revised
The first article, ‘Presentation of Financial Statements’ (“TAS 1”), of the Thai Accounting Standards (“TAS”) was revised in 2023.
Understanding agricultural accounting for NPAEs
Understanding agricultural accounting for NPAEs
Contingent assets: Compensation from insurance companies
The definition and accounting treatment of contingent assets have been newly introduced in the most recent version of the Thai Financial Reporting Standards for Non-publicly Accountable Entities (TFRS for NPAEs) (Revised 2022). To determine the appropriate recording of compensation from insurance companies, adherence to the guidelines outlined in the TFRS for NPAEs is essential.