6 c) Expected credit loss are determined based on the outstanding balance of the drawn down portion only. d) For retail debtors and SME debtors who are in the process of debt restructuring and unable to complete the process by 31 December 2021 in accordance with guidelines specified in the circular of the BOT No. BOT.RPD2.C. 594/2564 “Guidelines regarding debt restructuring to assist debtors affected by COVID-19”, classification of the debtors remains at the same stage as before restructuring until 31 March 2022 or until the BOT makes changes with which the entities are to comply. For debtors whose debt is restructured between 1 January 2021 and 31 December 2021, in accordance with the above clauses no. a) and b), the guidelines on staging assessment and provisioning under this accounting guidance apply from 1 January 2022 to 3 1 December 2023. However, for the year 2021 entities can still apply the Accounting Guidance on Temporary Relief Measures for Entities Providing Assistance to Debtors Impacted by Situations That Affect the Thai Economy, according to the notification of the Federation of Accounting Professions No. 17/2563 dated 16 April 2020. The management of the Group is currently evaluating the impact of this accounting guidance on the financial statements in the year when they are adopted. 4. Cumulative effects of change in accounting policy relating to the presentation of investments in subsidiaries and associates in the separate financial statements from cost method to equity method During the year 2021, the Company has reconsidered and changed its accounting policy related to investments in subsidiaries and associates in the separate financial statements from cost method to equity method. In making the changes in accounting policy, the Company adjusted the transaction retrospectively for the corresponding amounts as if the Company had applied the equity method to account for investments in subsidiaries and associated companies in the past. The cumulative effect of the change in accounting policy up to the beginning of 2020 is presented in “Cumulative effects of change in accounting policy relating to investments in subsidiaries and associates” in the statement of changes in equity. The amounts of the adjustments affecting the statements of financial position as at 31 December 2020 and 1 January 2020 and the statements of comprehensive income for the year ended 31 December 2020 are as follows: 222
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