IFRS Thai Accounting Standards TAS Updates AUDIT KPMG

IFRS Thai Accounting Standards (TAS) Updates AUDIT KPMG Phoomchai Audit Ltd. 30 October 2007 1

Thai Accounting Standards: Thai GAAP in Transition 1. Overview of Developments affecting financial statements for 2007/2008 Revised TAS first effective for annual financial statements with annual periods beginning on or after 1 January 2007 Revised TAS first effective for annual financial statements with annual periods beginning on or after 1 January 2008 Current exposure drafts and the draft has already disseminated 2

Revised TAS first effective for annual financial statements with annual periods beginning on or after 1 January 2007 TAS No. Topic IFRS/IAS No. TAS 44 (Revised 2007) Consolidated and Separate Financial Statements IAS 27 TAS 45 (Revised 2007) Investment in Associates IAS 28 TAS 46 (Revised 2007) Interest in Joint Ventures IAS 31 3

Revised TAS first effective for annual financial statements with annual periods beginning on or after 1 January 2008 TAS No. Topic IFRS/IAS No. TAS 25 (Revised 2007) Cash Flows Statements IAS 7 TAS 33 (Revised 2007) Borrowing Costs IAS 23 TAS 49 (Revised 2007) Construction Contracts IAS 11 4

Revised TAS first effective for annual financial statements with annual periods beginning on or after 1 January 2008 (continued) TAS No. Topic IFRS/IAS No. TAS 35 (Revised 2007) Presentation of Financial Statements IAS 1 TAS 39 (Revised 2007) Accounting Policies Changes in Accounting Estimates and Errors IAS 8 TAS 41 (Revised 2007) Interim Financial Reporting IAS 34 5

Current exposure drafts and the draft has already disseminated No TAS No. Topic IFRS/IAS No. 1 TAS 29 Leases IAS 17 2 TAS 30 The Effects of Changes in Foreign Exchange Rates IAS 21 3 TAS 31 Inventories IAS 2 4 TAS 32 Property, Plant and Equipment IAS 16 5 TAS 36 Impairment of Assets IAS 36 6 TAS 37 Revenues IAS 18 7 TAS 38 Earning per Share IAS 33 8 TAS 47 Related Party Disclosures IAS 24 9 TAS 50 Segment Reporting IAS 14 10 TAS 51 Intangible Assets IAS 38 6

Current exposure drafts and the draft has already disseminated (continued( No. TAS No. Topic IFRS/IAS No. 11 TAS 55 Accounting for Government Grants and Disclosure of Government Assistance IAS 20 12 TAS 56 Income Taxes IAS 12 13 TAS 57 Agriculture IAS 41 14 - Framework for the Preparation and Presentation of Financial Statements IAS 1 15 - Employee Benefits IAS 19 16 - Accounting and Reporting by Retirement Benefit Plan IAS 26 17 - Investment Property IAS 40 7

Current exposure drafts and the draft has already disseminated (continued( No TAS No. Topic IFRS/IAS No. 18 - Share-based Payment IFRS 2 19 - Business Combinations IFRS 3 20 - Insurance Contracts IFRS 4 21 - Non-current Assets Held for Sale and Discontinued Operations IFRS 5 22 - Exploration for and Evaluation of Mineral Assets IFRS 6 23 TAS 48 Financial Instruments: Disclosure and Presentation IAS 32 24 - Financial Instruments: Recognition and Measurement IAS 39 25 - Financial Instruments: Disclosures IFRS 7 8