Thai Financial Reporting Standard (Group of Financial Instruments)

            Thai Accounting Standards – Setting Committee is preparing Thai Financial Reporting Standard - Group of Financial Instruments based on the 2018 edition of the bound volume of International Financial Reporting Standards (“IFRS”) which expected to be effective in Thailand on 1 January 2020 onwards. Earlier application is permitted, an entity shall apply in annual periods beginning on or after 1 January 2019.

Process

1 = Approval by the Thai Accounting Standards – Setting Committee
2 = Approval by the Accounting Standard Scrutinizing Sub-Committee
3 = Approval by the Federation of Accounting Professions Committee
4 = Approval by the Oversight Committee on Accounting Professions
5 = On process for announced in Royal Gazette
6 = Announced in Royal Gazette

Thai Accounting Guidance (Group of Financial Instruments)

            The Thai Accounting Standards – Setting Committee prepared Thai Accounting Guidance about the financial instruments. There are 3 Guidance, the first one is in the due process that expected to be apply in Thailand in annual periods beginning on or after 1 January 2020 and the other 2 Guidance already announced in Royal Gazette which apply in Thailand in annual periods beginning on or after 1 January 2017. The other 2 Guidance will be cancelled when (a) TFRS 9 is effective on 1 January 2020 or (b) when the entity is earlier applied TFRS 9 before the effective date.

Thai Accounting Standard (Group of Financial Instruments)

            The Thai Accounting Standards – Setting Committee prepared and revised Thai Accounting Standards which are not translated from International Financial Reporting Standard (IFRS). In 2016, the committee revised 3 Thai Accounting Standards in accordance with relevance IFRS. These revised standards are effective on 1 January 2017 onwards. However, these Thai Accounting Standards will be cancelled when (a) TFRS 9 is effective on 1 January 2020 or (b) when the entity is earlier applied TFRS 9 before the effective date.

Articles/ News about TFRS (Group of Financial Instruments)

Explanation/Question-Answer/Illustrative examples

Question & Answer

            Thai Accounting Standards – Setting Committee, the Federation of Accounting Professions opened the channel for all users to send the accounting issues/ questions which were related to the financial instruments via e-mail (academic-fap@tfac.or.th) and will answer these accounting issues/questions which refer the principle in the accounting standards in order to help and educate the members and general users for clearly applying the standards.
            For the question, you have to fill in by the form as link below for all information (other supporting attachment, if any) and send back to the e-mail as mention above. The form will help us answer your question suddenly and more accurately.

• Form for asking about Thai Financial Reporting Standard - Group of Financial Instruments Download
  
  

Remark:
            The answer will send back within 14 days except the question that is complex or have to use the significant judgement. That question has to discuss and consider by the experienced and expert working group committees for more carefully. For this case, the answer will send back within 1 month after the meeting date.