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.
Draft to replace IFRS Practice Statement 1
On 27 May 2021, the IASB published an exposure draft that is intended to replace IFRS Practice Statement 1 – Management Commentary, published in December 2010.
Redeliberations continue on Primary Financial Statements project
At the meeting of the International Accounting Standards Board (IASB) in late May, the Board members continued their redeliberations on the proposals set out in the General Presentation and Disclosures exposure draft, which was published in December 2019.
IFRS IC publishes agenda decision on IAS 19
At its May meeting, the International Accounting Standards Board (IASB) approved the tentative agenda decision on Attributing Benefit to Periods of Service (IAS 19 – Employee Benefits) that was finalised by the IFRS Interpretations Committee (IFRS IC) at its April meeting.
IASB publishes amendments to IAS 12
On 7 May 2021, the IASB published the amendments to IAS 12, “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”. These amendments are intended to establish a general principle for the accounting treatment of deferred tax related to leases, and thus to reduce diversity in practice in this area.
IASB consults on its agenda to 2026
The IASB is currently consulting on its activities and its work plan for the next five years.