In its October 2018 newsletter, the Federation of Accounting Professions (“FAP”) stated that the Government Gazette has announced new Thai Financial Reporting Standards (TFRS) on Financial Instruments on 21 September 2018. These standards consist of the following:
A new Thai Financial Reporting Standard, TFRS 15, ‘Revenue from contracts with customers’, has been issued and will be applied to accounting periods beginning on or after 1 January 2019 (early adoption is permitted).
The August 2018 newsletter of the Federation of Accounting Professions (“FAP”) has stated that the Government Gazette is set to announce a tentative draft of TFRS 16, and this standard will be effective for annual reporting periods beginning on or after 1 January 2020.
Accounting for share-based payments under TFRS 2 is complex. In this article we look at one common scenario involving a performance related share incentive granted to the company’s management.
On 17 July 2018, the Federation of Accounting Professions (“FAP”) announced that the effective date for applying the new financial instruments standard, TFRS 9, has been postponed from 1 January 2018 to 1 January 2020.