PUBLICATIONS NEWSLETTERS  

ACCOUNTING AND AUDIT REQUIREMENTS

 What is accounting principles?
Generally the basic accounting principles practices comply with GAAP (generally accepted accounting methods). The Institute of Certified Accountants and Auditors of Thailand is the authoritative group promoting the application of generally accepted accounting principles. Thailand GAAP are similar to International Accounting Standard (IAS).

Any accounting method, which is adopted by a company, must be used consistently and may be changed only with the approval of the Revenue Department. Certain accounting practices which may be noted include depreciation, statutory reserve, stock dividends, consolidation, and accounting for pension plans.