The Study of Change in Financial Reporting Standards No.9 on Financial Instruments (TFRS 9) Affecting the Accountant Performances: The Case Study of Companies in SET 100 Group

Abstract

The objectives of this research were (1) to study of changes in Thai Financial Reporting Standards No. 9 on Financial Instruments (TFRS 9) affecting the performance of accountants,                    (2) to propose the guidelines for developing and improving the performance of accountants. The sample of this study consisted of 200 accountants of 100 SET 100 listed companies (2 accountants selected from each company). The sample was selected based on a purposive sampling.  The research tool was a questionnaire, which was divided into 3 parts. The reliability of the questionnaire was calculated as Alpha to be 0.93. Data collected were then analyzed using statistics, including mean, standard deviation, and multiple correlation analysis. The results of this study indicated that overall opinion of the respondents towards the changes in Thai Financial Reporting Standards No. 9 on Financial Instruments (TFRS9) was in a high level ( =3.84). When the individual aspects were considered, all aspects were in a high level. In addition, accountants had overall opinion towards effects on the performance of accountants in a high level ( =3.99). When the individual aspects were considered, all aspects were in a high level. The results of multiple correlation analysis revealed that the changes in Thai Financial Reporting Standards No. 9 on Financial Instruments (TFRS9) indicated that knowledge and understanding, financial statement preparation, and data preparation were positively related to the overall performance of accountants. Therefore, executives and accountants should emphasize on understanding the regulations of TFRS 9 thoroughly, calculating fair value of some risky transactions, preparing documents to meet the requirements stipulated by TFRS 9, and changing accounting entry to cope with the changes in TFRS 9 in order to prevent panic of accountants before the actual enforcement of TFRS9.