Page 135 - TGIA_AnnualReport2011

(b) The determination of depreciation must be done separately when each of the components is
significant.
(c) The left over value of the properties must be estimated at the value that the operator expects to

receive from such properties at present time if the usable period and the condition, expected to
receive at present when the usable period is over. Moreover, there must be a cross examination of
left over value and usable period at least every year.

Such change must be comply immediately according to the practical methods, specified in that financial
report standard, except the determination of removing, transporting and renovating costs which are practiced
retrospectively.

Staff Benefits Accounting
From January 1, 2011, the General Insurance Association has begun to comply with IFRSs for Non-Publicly
Accountable Entities (NPAEs) in the preparation of financial report on staff benefit obligations in which
the General Insurance Association has based its estimation and recognition of staff benefit obligations on
the best estimated value method. In the past, the staff benefit obligations were recognized as expense when
the payment occurred.
The General Insurance Association chose to record the staff-benefit-related liabilities that occurred after
January 1, 2011 as the adjusted income higher than accumulated liabilities as of January 1, 2011.
The impacts on financial statement in 2011 are as follows:

Baht

Balance Sheet
Accumulated Capital as of December 31, 2010 as reported last year 9,480,988.49

Staff benefit obligations increase (1,691,657.00)

Accumulated Capital as of January 1, 2011 7,789,331.49

Income and Expense Account of the year, ended on December 31, 2011
Administrative Costs that increased

as a result of an increase in staff benefits 1,455,756.00
Balance 1,455,756.00

133