Accounting Section - Doing Business

You will find here a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for Doing Business in Thailand.

Revaluation model for property, plant, and equipment, as well as investment property for non-publicly accountable entities

As a result of the COVID-19 pandemic, the Federation of Accounting Professions (TFAC) has evaluated the effect that it might have on non-publicly accountable entities. One issue that TFAC is aware of is the accounting principles for recognizing property, plant, and equipment, as well as investment property as assets under the Thai Financial Reporting Standards for Non-Publicly Accountable Entities (“TFRS for NPAEs”).

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Exposure Draft of Thai Standards on Auditing 540

On 24 January 2020, The Federation of Accounting Professions (“TFAC”) released the exposure draft (“ED”) of Thai Standard on Auditing (“TSA”) 540 (revised) for public hearing and comments.

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Recognition of related-party recharges

Tax coupons for duty and tax paid on exported goods in Thailand

Accounting for a non-refundable up-front fee

How to account for a non-refundable up-front fee paid to a customer?

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