208
Annual Report
2013
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
Notes to the financial statements
87
35 Thai Financial Reporting Standards (TFRS) not yet adopted
The Group/Company has not adopted the new and revised TFRS that have been issued but are not yet
effective. Those new and revised TFRS that are applicable to the Group’s/Company’s operations,
which become effective for annual financial periods beginning on or after 1 January in the year
indicated in the following table, are as follows:
TFRS
Topic
Year
effective
TAS 1 (revised 2012)
Presentation of financial statements
2014
TAS 7 (revised 2012)
Statement of Cash Flows
2014
TAS 12 (revised 2012)
Income Taxes
2014
TAS 17 (revised 2012)
Leases
2014
TAS 18 (revised 2012)
Revenue Recognition
2014
TAS 19 (revised 2012)
Employee Benefits
2014
TAS 21 (revised 2012)
The Effects of Changes in Foreign Exchange Rates
2014
TAS 24 (revised 2012)
Related Party Disclosures
2014
TAS 28 (revised 2012)
Investments in Associates
2014
TAS 31 (revised 2012)
Interests in Joint Ventures
2014
TAS 34 (revised 2012)
Interim Financial Reports
2014
TAS 36 (revised 2012)
Impairment of Assets
2014
TAS 38 (revised 2012)
Intangible Assets
2014
TFRS 3 (revised 2012)
Business Combinations
2014
TFRS 5 (revised 2012)
Non-current Assets held for Sale and Discontinued
Operations
2014
TFRS 8 (revised 2012)
Operating Segments
2014
TFRIC 1
Changes in Existing Decommissioning, Restoration and
Similar Liabilities
2014
TFRIC 4
Determining whether an Arrangement contains a Lease
2014
TFRIC 5
Rights to Interests arising from Decommissioning,
Restoration and Environmental Rehabilitation Funds
2014
TFRIC 10
Interim Financial Reporting and Impairment
2014
TIC 15
Operating Leases-Incentives
2014
TIC 27
Evaluating the Substance of Transactions Involving the
Legal Form of a Lease
2014
TFRIC 4 – Determining whether an Arrangement contains a Lease
TFRIC 4 addresses arrangements that do not take the legal form of a lease, but convey rights to use
items for agreed periods of time in return for a payment or series of payments. TFRIC 4 provides
guidance for evaluating whether such arrangements are, or contain, leases that should be accounted for
under TAS 17 Leases. If an agreement is determined to contain a lease, then TFRIC 4 requires TAS
17 to be applied to classify and account for the lease.
The Group/Company will adopt TFRIC 4 with effect from 1 January 2014. The effects of the change
will be recognised retrospectively in the financial statements.
Management is presently considering the potential impact of adopting and initial application of these
new and revised TAS on the Group/Company’s financial statements.
otes to the financial statements
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
