Page 256 - BAM ONE REPORT 2565 (ENGLISH VERSION)

250

3. New financial reporting standards

3.1 Financial reporting standards that became effective in the current year

During the year 2022, the Company has adopted the revised financial reporting standards
and interpretations which are effective for fiscal year beginning on or after 1 January 2022.

These financial reporting standards were aimed at alignment with the corresponding
International Financial Reporting Standards with most of the changes directed towards
Bangkok Commercial Asset Management Public Co., Ltd.
clarifying accounting treatment and providing accounting guidance for users of the standards.
The adoption of these financial reporting standards does not have any significant impact on

the Company’s financial statements.

3.2 Financial reporting standards that became effective for fiscal year beginning on or
after 1 January 2023

The Federation of Accounting Professions issued a number of revised financial reporting
standards, which are effective for fiscal year beginning on or after 1 January 2023. 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, for some standards, providing temporary reliefs or temporary
exemptions for users.

The management of the Company believes that adoption of these amendments will not have

any significant impact on the Company’s financial statements.

3.3 Accounting Guidance on the Guidelines Regarding the Provision of Financial
Assistance to Debtors Affected by COVID-19

The Federation of Accounting Professions has announced Accounting Guidance on
Guidelines regarding the Provision of Financial Assistance to Debtors Affected by COVID-19.
Its objectives are to provide temporary relief measures and an alternative for all entities

providing assistance to debtors in accordance with guidelines of the Bank of Thailand. The
accounting guidance is applicable for provisions of assistance to such debtors made during
the period from 1 January 2022 to 31 December 2023 or until the Bank of Thailand makes

changes.

2