Creating the Future of Finance - Breakthrough Innovation
K
KASIKORNTHAI
TFRS and IFRS Implementation*
2013
2015
2016
2020
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
2022
2025
TAS 21: Effects of
Changes in Foreign
Exchange Rates
Translate 'Functional
Currency' to
'Presentation Currency'
TFRS 8: Operating
Segments
Disclose operating
results for each key
segment
TFRS 13: Fair
value
TFRS 4: Insurance
Contracts
TFRS 16 (Leases)
Measurement
Clear required
factors and
disclosure
about fair
valuation
➤ Measure
insurance liability
based on cash
flow estimation
➤ Additional
disclosure
regarding risk
exposure
There is a single, on-balance sheet accounting
model for lessee that is similar to current
finance lease accounting.
TFRS 9 (IAS 39), TFRS 7 & TAS 32: Financial
Instruments
Thai banks have implemented a new provisioning
rule under IAS 39, since December 2006
➤ Unquoted equities at cost to be faired value and
not able to realize capital gain/loss in profit and
loss if they are faired valued through OCI
➤ Interest revenue of lending portfolio will be
recognized per effective interest rate
➤ Investment in property fund, REIT, infrastructure
fund and infrastructure trust established in
Thailand will be classified as equity instrument.
(Refer to announcement from TFAC dated 25
June 2020)
TFRS 17: Insurance
Contracts
Insurance revenue will be
based on margin, not gross
premium received
Expected day one loss is
immediately realized while
expected gain is deferred
over coverage period
TFRS 9 Amendments from
Interest Rate Reform
➤ Replacement of IBOR with new
benchmark rate is considered
as continuation of existing
contract and/or hedge
strategies where changing rate
is reflected in new EIR or
hedge ineffectiveness in profit
or loss.
Note: TAS Thai Accounting Standard; TFRS = Thai Financial Reporting Standard; TFRIC = Thai Financial Reporting Interpretations Committee
OCI Other Comprehensive Income
Customer loyalty program concept of income deferral for reward credit has been adopted through IFRS15 since 2019 with no significant impact.
No specific accounting guideline for digital assets has been enforced; but encourage to apply from existing relevant TFRS depends on terms and condition of digital assets.
* Only financial and disclosure impact to Thai Banks
บริการทุกระดับประทับใจ
K
KASIKORNTHAI
Government Policy
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
127
บริการทุกระดับประทับใจ
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