CIMA workshops on LKAS 32 and LKAS 39

The CIMA Sri Lanka Division will hold a workshop on ‘LKAS 32: financial instruments – presentation’ and ‘LKAS 39: financial instruments - recognition and measurement’ on 28 and 29 May at 8:30 a.m. to 12:30 p.m. at CIMA auditorium

The accounting standard study group of the CIMA Sri Lanka division aims to improve understanding on the application of LKAS 32 and 39 covering accounting for financial instruments. There has been much interest in the standard and its application due its perceived complexity, and its impact on recognition and measurement of key sources of finance in corporate financial statements.

The workshop will strive to understand the content of the standard and the practical issues arising in application. Participants will be able to enhance understanding on the application through practical examples and testing knowledge applied to different scenarios within the scope of the standard. The speakers will be covering the following topics:  Introduction to financial instruments, Introduction to derivatives, Impairment of Financial Instruments, Debts vs. equity, De-recognition of financial assets, Financial instruments disclosures.

The resource persons for the workshops are Ernst & Young Sri Lanka and Maldives Partner Manil Jayasinghe, Sri Lanka Partner Sanath Fernando and Director Nirmal Costa.