- Thai Accounting Standard No. 28 - Thai Accounting Standard No. 29
(Revised 2009)
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Thai Accounting Standard No. 31 Thai Accounting Standard No. 33 Thai Accounting Standard No. 34 Thai Accounting Standard No. 36 Thai Accounting Standard No. 37
(Revised 2009) (Revised 2009) (Revised 2009) (Revised 2009) (Revised 2009)
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Thai Accounting Standard No. 38 Thai Accounting Standard No. 40 Thai Financial Reporting Standards No. 3 Thai Financial Reporting Standards No. 5
(Revised 2009) (Revised 2009) (Revised 2009)
- Thai Financial Reporting Standards No. 6
3.3 Effective for the period beginning on or after January 1, 2013 - Thai Accounting Standard No. 12 - Thai Accounting Standard No. 20 (Revised 2009)
Investments in Associates Financial Reporting in Hyperinflationary Economies Interests in Joint Ventures Earnings per Share Interim Financial Reporting Impairment of Assets Provisions, Contingent Liabilities and Contingent Assets Intangible Assets Investment Property Business combinations Non-current Assets Held for Sale and Discontinued Operations Exploration for and Evaluation of Mineral Resources
Income Taxes Accounting for Government Grants and Disclosure of Government Assistance However, AOT’s management has determined that the accounting framework, amendments to accounting standards, new accounting standards and new financial reporting standards will not have any significant impact on the financial statements being presented for the year in which they are initially applied.
4. Summary of Significant Accounting Policies
These financial statements have been prepared in conformity with accounting standards subject to the Accounting Professions Act, B.E.2547 (2004). The significant accounting policies are: 4.1 Revenue recognition 4.1.1 Landing and parking charges, passenger service charges, use of utilities charges and service charges are recognized as revenues in the accounting period in which services are provided. 4.1.2 Rent for offices and real estate properties, and concession revenues are recognized as revenues according to the period of time and commission rates specified in the contract. 4.1.3 Revenues from hotel business and restaurant are recorded as revenues in accordance with the price in invoice (excluding VAT) for goods and services after discount and added service charges. 4.1.4 Interest income is recognized according to the period of time to which it applies, taking into account the actual rate of return. 4.1.5 Dividends are recognized when the dividend payment is announced. 4.1.6 Expenses are recorded by accrual basis. 4.2 Allowance for doubtful accounts Allowance for doubtful accounts is set up by considering the estimated losses expected to be incurred as a result of non-payment by accounts receivable, based on past collection experience and the current status of accounts receivable as of the balance sheet date. Bad debts are written off as they are identified during the year. 4.3 Inventories and supplies Inventories are stated at cost or net realizable value whichever is lower. The cost of inventories is calculated by weighted average method. Inventories cost is comprised of purchasing cost and other direct expenses related to that purchasing. Net realizable value is the estimated selling price in the ordinary course of business less the estimated cost of that sale. Supplies are recorded at weighted average cost. For those with no movement for over 5 years, provision for obsolescence is made at a full amount. 4.4 Investments 4.4.1 Long-term investment Investments in non-marketable equity securities are recognized as general investments and stated at cost adjusted for impairment. 4.4.2 Investment in equity securities Investments in marketable equity securities available for sale are stated at fair value. Unrealized gains or losses on changes in valuation are shown as separate items under shareholders’ equity. 4.4.3 Investments in subsidiaries and associates are recorded according to the equity method and presented in the company’s financial statements by cost method. Annual Report 2010 I Airports of Thailand Public Company Limited
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