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IFRS Update

IFRS 16 is effective from January 1, 2019. The IASB issued IFRS 16 in January 2016. It replaces the previous standard, IAS 17 leases. IFRS 16 eliminates the classification of leases as either operating or finance leases. Instead, all leases are treated in a similar way to finance leases applying IAS Read More

Fixed Asset Investment in Thailand

To stimulate the economy, the |government is continually looking for ways to promote more fixed asset investment in Thailand. Recently, a Royal Decree (No 604) was issued to provide tax incentives to companies planning to expand or make major investments in assets. This Royal Decree will allow companies an additional depreciation deduction for assets acquired between November 3, 2015, and December 31, 2016.

The additional Read More

New lease accounting rule brings $3trn onto company balance sheets

Companies in more than 100 countries will be forced to bring around $3 trillion of lease commitments onto their balance sheets in a major overhaul of international accounting rules governing how companies should report their leasing obligations. Accounting standard setter the IASB today published IFRS 16 Leases, which requires companies to bring most leases on-balance sheet for the first time, recognising new assets and Read More