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.
Cash Equivalents and Temporary Investments
An entity had an investment in a six-month time deposit with a due date in January (one month after balance sheet date). Should the entity classify the time deposit as a cash equivalent or temporary investment?
IFRS 15 - Revenue from Contracts with Customers
On 28 May 2014, the International Accounting Standards Board (‘IASB’) and the US standard setter, Financial Accounting Standards Board (‘FASB’) jointly issued a converged Standard on the recognition of revenue from contracts with customers.
Exposure Draft of Amendments to IAS 1
On 25 March 2014, the International Accounting Standards Board (“IASB”) published an exposure draft entitled “Disclosure Initiative – Proposed amendments to IAS 1”, which is open for comment until 23 July 2014. This publication forms part of a wider project on disclosures in the notes to IFRS financial statements.
Accounting for a Stock Dividend
The Federation of Accounting Professions (“FAP”) issued Notification No.15/2557 regarding the accounting guideline for recognition of a stock payment made in the form of additional shares.
IFRS/US GAAP Convergence on Financial Instruments
Plenary meetings in December 2013 and January 2014 saw the US standard-setter (“FASB”) reverse the decisions made last year on the classification of financial assets.