Thai Financial Reporting Standards

Thai Financial Reporting Standards

Main Page TFRSs (Revised) Accounting Manuals
for TFRSs
Articles / News

Due Process of Thai Financial
Reporting Standards (Due process)

Comment Letter Thai Accounting Standards &
Thai Accounting Guidances
(TAS & Guidance)


         Roadmap of Thai Financial Reporting Standards: Thai Financial Reporting Standards (”TFRS”) are currently translated and adopted according to International Financial Reporting Standards (“IFRS”). TFRS are based on IFRS latest bound volume with one year delay from the related IFRS effective date. Summary of TFRS are as follows;

  Thai Financial Reporting Standards (“TFRS”) Effective date
  Revised 2017 (announced in the Royal Gazette) 1 Jan 2018
  Revised 2016 (announced in the Royal Gazette) 1 Jan 2017
  Revised 2015 (announced in the Royal Gazette) 1 Jan 2016
  Revised 2014 (announced in the Royal Gazette) 1 Jan 2015

        IFRS which have been published by International Accounting Standards Board (IASB) and Federation of Accounting Professions (“FAP”) are in the due process of studying and monitoring on draft of TFRS can be summarized as follows;

IASB-Work Plan Draft Thai Financial Reporting Standards Expected Effective date
IAS 32 Financial InstrumentsPresentation

Draft TAS 32 Financial Instruments: Presentation

1 Jan 2020

IFRS 7 Financial InstrumentsDisclosures

Draft TFRS 7 Financial Instruments: Disclosures

1 Jan 2020

IFRS 9 Financial Instruments
(See IASB-Work Plan)

Draft TFRS 9 Financial Instruments

1 Jan 2020

IFRIC 16 Hedges of a Net Investment in a Foreign Operation

Draft TFRIC 16 Hedges of a Net Investment in a Foreign Operation

1 Jan 2020

IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments

Draft TFRIC 19 Extinguishing Financial Liabilities with Equity Instruments

1 Jan 2020

IFRS 16 Leases
(See IASB-Work Plan)

Draft TFRS 16 Leases

1 Jan 2020

IFRS 17 Insurance Contracts
(See IASB-Work Plan)

Draft TFRS 17 Insurance Contracts
(in the process for translation)

1 Jan 2023

(See IASB-Work Plan)

Draft TFRS for SMEs

(In process of reconsideration)

For the work plan project of the implementation of the International Financial Reporting Standards (“IFRS”) by International Accounting Standards Board (“IASB”), please see more detail as link >> (See IASB-Work Plan)


Thai Financial Reporting Standards which are to be adapted by practioners in order to prepare the annual financial report are consisted of 3 parts which are,

  1. Thai Financial Reporting Standards (revised version) : which are in line with the international financial reporting standard announced by IFRS Click
  2. Thai Accounting Standards : which are accounting standard that solely adopted in Thailand. Its principles are based on international generally accepted accounting principles. Click
  3. Thai Accounting Guidances : which are the guidance that solely adopted in Thailand since there is no principle or guidance determined on international financial reporting standard and international accounting standard Click
Post Date :
20 Oct 2017 9:53:20
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