The Significance of Accounting Standard TFRS and NPAEs

Abstract

          Since The Federation of Accounting Professions launched the announcement 62/2553 on "the explanation about the arrangement accounting standard for Non-Publicly Accountable Entities" on 24 December 2553 B.E. and Financial Reporting Standard for Non-Publicly Accountable Entities. This article presents the 3 significant issues as follows the background of Financial Reporting Standard of Thailand. The Financial Reporting Standard of Thailand divides into two groups which are Publicly Accountable Entities (PAEs) and Non-Publicly Accountable Entities (NPAEs). The differences between Thai Financial Reporting Standard: TFRS and Non-Publicly Accountable Entities: NPAEs are presented.