SET Companies - Thai Accounting Standards - IFRS
The Federation of Accounting Professions (‘FAP’) and the Securities and Exchange Commission of Thailand (‘SEC’) have announced a scheduled timeline for Stock Exchange of Thailand (‘SET') listed companies to become fully compliant with Thai Accounting Standards (‘TAS’) adopted from the International Financial Reporting Standards (‘IFRS’).
Keywords: Accounting, Thailand, IFRS adoption, SET, TAS, FAP
Thai Accounting Standards pending announcement in the Thai Government Gazette and which will become effective in 2011:
- TAS 16 Plant Property and Equipment
- TAS 18 Revenue
- TAS 19 Employee Benefits
- TAS 20 Accounting for Government Grants and Disclosure of Government Assistance
- TAS 21 The Effects of Changes in Foreign Exchange Rates
- TAS 24 Related Party Disclosures
- TAS 26 Accounting and Reporting of Retirement Benefit Plans
- TAS 29 Financial Reporting in Hyperinflationary Economies
- TAS 33 Earnings per Share
- TAS 40 Investment Property
- TAS 41 Agriculture
- TFRS 1 First – Time Adoption of International Financial Reporting Standards
- TFRS 2 Share-based Payments
- TFRS 6 Exploration and Evaluation of Mineral Resources
- TFRS 8 Operating Segments Thai Accounting Standards pending announcement in the Thai Government Gazette and for which the effective date has been postponed to 2013
- TAS 12 Deferred tax
- TAS 32 Financial Instruments: Presentation
- TAS 39 Financial Instruments: Recognition and Measurement
- TFRS 4 Insurance Contracts
- TFRS 7 Financial Instruments: Disclosure
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