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.
Application of materiality to financial statements
As part of its ‘Disclosure Initiative’, the IASB is seeking comments on its draft ‘Practice Statement’ on the application of materiality to financial statements. The Practice Statement was published on 28 October 2015.
Effective date of IFRS 16 tentatively set
At its October meeting, the IASB (tentatively) decided to set the effective date of the IFRS 16 – Leases standard at 1 January 2019.
IASB proposals to clarify IFRS 15
The IASB issued an exposure draft in order to clarify a number of provisions in IFRS 15, Revenue Recognition.
Deferral of IFRS 15 mandatory effective date
As reported previously, the IASB recently published an exposure draft proposing a one-year deferral of the mandatory effective date of IFRS 15.
Amendments to IAS 19 and IFRIC 14 proposed
On 18 June 2015, the IASB published for comment exposure draft ED/2015/5 Remeasurement on Plan Amendment, Curtailment or Settlement/ Availability of refund from a Defined benefit Plan of proposed amendments to IAS 19 – Employee Benefits and IFRIC 14 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.