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.
Recognising expected losses on non-cancellable purchase commitments under TFRS for NPAEs
29 October 2025
In practice, many non public entities enter into purchase contracts where they commit to buying goods at a fixed price. If market conditions deteriorate before delivery, these arrangements may create an expected loss that must be recognised in the financial statements.
Accounting for employee benefits under TFRS for NPAEs: Common pitfalls and practical guidance for SMEs
2 October 2025
For many Thai SMEs, accounting for employee benefits—especially long-term obligations such as retirement severance—remains a source of confusion. While TFRS for NPAEs is simpler than full TFRS (TAS 19), errors are still common, often due to outdated assumptions or failure to apply key requirements.
Accounting for loan term modifications under TFRS for NPAEs
22 August 2025
In the current economic climate, many businesses are renegotiating the terms of loan agreements with financial institutions. These changes—such as revised payment schedules or interest rate adjustments—can significantly affect the accounting treatment of liabilities.
TFRS 18 and TFRS 19: Key developments in presentation and disclosure
22 July 2025
In April 2025, the Thai Federation of Accounting Professions (TFAC) released exposure drafts for two new Thai Financial Reporting Standards (TFRS)
DBD proposes enhanced qualifications for accountants to prevent nominee practices
On 28 April 2025, the Department of Business Development (DBD), under the Ministry of Commerce, announced a draft regulation to revise the qualifications for accountants in Thailand. The draft introduces stricter eligibility conditions aimed at deterring accountants from participating in or facilitating nominee arrangements for foreign businesses—an issue identified as undermining fair competition.