Page 189 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability Corporate Governance Policy Financial Statements Attachments
Tata Steel (Thailand) Public Company Limited
Notes to the Consolidated and Separate Financial Statements For the year ended 31 March 2025
Tata Steel (Thailand) Public Company Limited
Notes to the Consolidated and Separate Financial Statements For the year ended 31 March 2025
3 Amended financial reporting standards
3 Amended financial reporting standards
3.1 Amended financial reporting standards that are effective for accounting periods beginning on or after
1 January 2024 do not have material impact on the Group.
3.1 Amended financial reporting standards that are effective for accounting periods beginning on or after 1 January 2024 do not have material impact on the Group.
3.2 Amended financial reporting standards that are effective for the accounting periods beginning on or after
3.2 Amended financial reporting standards that are effective for the accounting periods beginning on or
1 January 2025 do not have material impact on the Group and the Group has not early adopted the
after 1 January 2025 do not have material impact on the Group and the Group has not early adopted the amended financial reporting standards before effective date.
4 Accounting policies
4 Accounting policies
4.1 Investment in subsidiaries
4.1 Investment in subsidiaries
In the separate financial statements, investment in subsidiaries is accounted for using cost method.
The financial statements are presented in Thai Baht, which is the Company’s functional and presentation currency.
Trade receivables are subsequently measured at amortised cost when the consideration is unconditional, less loss allowance.
The impairment of trade receivables are disclosed in Note 4.5 c).
Inventories are stated at the lower of cost and net realisable value. Cost is determined by the weighted average method for finished goods and work in process and by the moving average method for merchandise, raw materials, spare parts, supplies and others.
Regular way purchases, acquires and sales of financial assets are recognised on trade-date. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.
4.2 Functional and presentation currency
4.2 Functional and presentation currency
4.3 Trade accounts receivable
4.3 Trade accounts receivable
4.4 Inventories
4.4 Inventories
4.5 Financial assett
a) Recogniittioionnaannddddereerceocgongitnioitnion
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