Thailand Accounting Standards and Financial Reporting Standards are announced by Thailand Federation of Accounting Professions (FAP) and correspond with the International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS). The ones that are currently effective as of 1 January 2011 are summarized in the below table. Note that all of Thailand accounting standards and Thailand financial reporting standards have to be employed by all public companies in Thailand. Non-public companies may choose not to employ the accounting standards and financial reporting standards that FAP has exempted them from.
| No. | Thai Accounting Standard | Public Companies | Non-public Companies |
| TAS 1 | Presentation of Financial Statements | X | X |
| TAS 2 | Inventories | X | X |
| TAS 7 | Cash Flow Statements | X | |
| TAS 8 | Accounting Policies, Changes in Accounting Estimates and Errors | X | X |
| TAS 10 | Events after the Balance Sheet Date | X | X |
| TAS 11 | Construction Contracts | X | X |
| TAS 16 | Property, Plant and Equipment | X | X |
| TAS 17 | Leases | X | X |
| TAS 18 | Revenue | X | X |
| TAS 19 | Employee Benefits | X | |
| TAS 23 | Borrowing Costs | X | X |
| TAS 24 | Related Party Disclosures | X | |
| TAS 26 | Accounting and Reporting by Retirement Benefit Plans | X | |
| TAS 27 | Consolidated and Separate Financial Statements | X | |
| TAS 28 | Investments inAssociates | X | |
| TAS 29 | Financial Reporting in Hyperinflationary Economics | X | X |
| TAS 31 | Interests in Joint Ventures | X | |
| TAS 33 | Earnings Per Share | X | X |
| TAS 34 | Interim Financial Reporting | X | X |
| TAS 36 | Impairment of Assets | X | |
| TAS 37 | Provisions, Contingent Liabilities and Contingent Assets | X | X |
| TAS 38 | Intangible Assets | X | X |
| TAS 40 | Investment Property | X | X |
| No. | Thai Financial Reporting Standard | Public Companies | Non-public Companies |
| TFRS 2 | Share – Based Payments | X | – |
| TFRS 3 | Business Combinations | X | X |
| TFRS 5 | Non-current Assets Held for Sale and Discontinued Operations | X | X |
| TFRS 6 | Exploration for and Evaluation of Mineral Resources | X | X |
The Thai accounting standards that have been approved and will become effective for accounting periods that begin on or after 1 January 2013 are:
TAS 12 Income Taxes
TAS 20 Accounting for Government Grants and Disclosure of Government Assistance
TAS 21 The Effects of Changes in Foreign Exchange Rate
Source: http://www.fap.or.th/index.php?lay=show&ac=article&Ntype=10&Id=539609025 as of 18 March 2011