Page 172 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
- Non-current liabilities for which status must be maintained.
This revision specifies the existence of the status with which the business is required to comply with only at or before the end of the reporting period, resulting in the exercise of the right to postpone the repayment of debt for at least 12 months from the end of the reporting period. Therefore, this must be considered in assessing the classification of liabilities as current or non-current.
Maintaining status affects the consideration of whether the rights were possessed at the end of the reporting period. Although maintaining the status is assessment after the reporting period, for example, when the status is based on the financial position of the business at the end of the reporting period, the status compliance is assessed after the reporting period.
The revision shall be retroactive for the annual reporting period beginning on or after 1 January 2025, and allows businesses to comply before the effective date.
Accounting Standard No. 7 “Cash Flow Statements” and Financial Reporting Standard No. 7 “Financial Instrument Disclosure” - Financing Agreements to Pay Vendors
This revision adds the purpose of disclosure in Accounting Standard 7 by stating that entities are required to disclose information about financing agreements to pay vendors that help users of financial statements assess the impact of those agreements on the entities' liabilities and cash flows. In addition, Financial Reporting Standard No. 7 has been revised by adding a financing agreement for payment to vendors, as an example of the requirement in disclosing information about the position of a business on the concentration of liquidity risks.
“Financing Agreement to Pay Vendors” is not defined in the vocabulary terms. The revision describes the nature of the agreement under which the business is required to disclose information in order to achieve the purpose of that disclosure. The business must disclose the overall information for the financing agreement for payment to venders as follows :
• Terms and Conditions of the Agreement
• The book value and associated line items presented in the financial statements of the business for financial
liabilities that are part of financing agreements for payment to vendors.
• The book value and associated line items for which the vendor has already been successfully been paid by
the funder.
• The range of due dates for both financial liabilities that are part of a financing agreements for vendor payment
and comparable trade payables that are not part of the financing agreements for vendor payments. • Information on Liquidity Risks
The revision contains specific relaxations for the first annual reporting period to which the business adheres, which is effective for the accounting period commencing on or after 1 January 2025 onward, and allows the business to comply before the effective date.
Financial Reporting Standard No. 16 “Lease” – Lease Liabilities in Sales and Leaseback
This revision adds a requirement of subsequent measurement for sales and leasebacks considered to be the sale of assets in compliance with the requirements of Financial Reporting Standard No. 15. This additional revision requires seller-lessee to specify “payment under lease agreement” or “payment under revised lease agreement”, so the seller-lessee does not recognize profit or loss in relation to rights belonging to the seller-lessee after the date the lease agreement takes effect.
This revision does not affect profits or losses recognized by the seller-lessee in relation to the partial or full termination of the lease agreement. Without the new terms, the seller-lessee may only recognize profits from the remaining usage rights, because the measurement of liabilities value under a new lease agreement (e.g., after
170 Thailand Post Company Limited