Page 249 - E-BOOK

In addition, as at 19 June 2020, the BOT issued the circular of the BOT No. BOT.RPD.(01)C.
648/2563 “Measures to provide additional assistance to small-sized debtors during the
COVID-19 phase 2 situation”.

During the year ended 31 December 2020, the Company entered into the scheme to provide

assistance to affected debtors. The details of loan purchased of receivables and installment
sale receivables debtors with debts are disclosed in Note 12.5 and 13.3, respectively.

Accounting Guidance on Temporary Relief Measures for Accounting Alternatives in

Response to the Impact of the Covid-19 Pandemic

The Federation of Accounting Professions announced Accounting Guidance on Temporary
Relief Measures for Accounting Alternatives in Response to the Impact of the Covid-19

Pandemic. Its objectives are to alleviate some of the impact of applying certain financial
reporting standards, and to provide clarification about accounting treatments during the period
of uncertainty relating to this situation.

On 22 April 2020, the Accounting Guidance was announced in the Royal Gazette and it is

effective for the financial statements prepared for reporting periods ending between 1 January
2020 and 31 December 2020. 247

The Company did not decided to apply this temporary relief measures.

3.2 Financial reporting standards that became effective for fiscal years beginning on or
after 1 January 2021

The Federation of Accounting Professions issued a number of revised financial reporting
standards and interpretations, which are effective for fiscal years beginning on or after

1 January 2021. These financial reporting standards were aimed at alignment with the
corresponding International Financial Reporting Standards with most of the changes directed
towards clarifying accounting treatment and providing accounting guidance for users of the

standards.
Bangkok Commercial Asset Management Public Co., Ltd.
The management of the Company is currently evaluating the impact of these standards to the
financial statements in the year when they are adopted.