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

Accounting consequences of the US tax reforms

In order to avoid the risk of inconsistent application of the US tax reform by European listed companies, or the taking of too many liberties with IAS 12 using the US Act as a pretext, the European Securities and Markets Authority (ESMA) decided to publish a Public Statement on 26 January, entitled Accounting for Income Tax consequences of the United States Tax Cuts and Jobs Act under IFRS.

Improvements to IFRSs – 2015-2017 Cycle

On 12 December 2017, the IASB published the 2015–2017 Cycle of improvements to IFRSs, bringing amendments to IFRS 3 – Business Combinations, IFRS 11 – Joint arrangements, IAS 23 – Borrowing Costs, and IAS 12 – Income taxes.

Case study report on improving disclosures

On 5 October 2017, the IASB issued a case study report entitled Making disclosures more meaningful, looking at how six companies have improved their disclosures in term of both the improvement process and its outcomes.