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 in financial statements and notes according to the TFRS for NPAEs (Revised 2022) and new DBD notification
The Thai Financial Reporting Standards for Non publicly Accountable Entities (TFRS for NPAEs) (Revised 2022) applies to financial statements prepared for fiscal years beginning on or after 1 January 2023.
Mergers and acquisitions: Accounting considerations and best practices
In today’s dynamic business environment, mergers and acquisitions (M&A) have become a common strategy for companies seeking growth, diversification, or competitive advantage. It’s crucial to understand the motivations behind M&A activities, the different types of transactions, and the accounting implications. This article aims to provide an overview of M&A from an accounting perspective, highlighting key considerations and relevant Thai financial reporting standards.
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
20 June 2024
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.