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.
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.
Revenue recognition for multiple-element arrangements under TFRS for NPAEs
27 April 2026
In practice, entities frequently enter into transactions that include multiple components within a single arrangement, for example: Sale of goods bundled with after-sales services, Contracts combining goods, installation, and maintenance and Multiple agreements entered into together that are commercially interdependent
IFRS S2 and greenhouse gas emissions reporting: what Thai companies need to focus on now
17 March 2026
The Federation of Accounting Professions (TFAC) released an article in early February 2026 addressing the implementation of IFRS S2 Climate-related disclosures. The publication placed particular emphasis on the reporting of greenhouse gas (GHG) emissions, encompassing Scope1, Scope 2, and Scope 3 categories. This article highlights the core points that matter most for Thai preparers as the regulatory environment shifts toward climate first reporting.
TFRS 2027–2028: A roadmap to the future of Thai financial reporting
11 February 2026
As the global financial landscape shifts toward greater transparency, Thailand is aligning its local standards with international best practices