IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
Fifth compilation of IFRS IC agenda decisions
On 28 October 2021, the IFRS Foundation published the fifth compilation of IFRS Interpretations Committee (IFRS IC) agenda decisions, taken between April and October 2021.
IFRS IC on the accounting treatment of warrants
Following approval by the IASB in October, the IFRS IC published its final decision on the accounting treatment of warrants classified as financial liabilities on initial recognition. The request asked whether the issuer could subsequently reclassify the warrant as an equity instrument.
IFRS IC agenda decision on non-refundable VAT on lease payments
The IFRS Interpretations Committee (IFRS IC) had been asked whether or not non-refundable VAT on lease payments, either because of the nature of the leased property or because of the situation of the lessee, forms part of these lease payments.
Ongoing IASB deliberations on presentation of financial statements
In September, the IASB continued its deliberations following the December 2019 Exposure Draft issued with a view to the possible replacement of IAS 1 on the presentation of financial statements and the amendment of IAS 7 on the statement of cash flows.
Business combinations and impairment tests
Readers will remember that the IASB published a Discussion Paper entitled Business Combinations – Disclosures, Goodwill and Impairment on 19 March 2020.