Saturday Nov 16, 2024
Saturday Nov 16, 2024
Tuesday, 11 March 2014 00:58 - - {{hitsCtrl.values.hits}}
Ernst & Young Senior Partner Manil Jayesinghe was the main speaker to the event covering impairment of financial assets, especially in case of finance institutions, overview of the LKAS 32, 39 & SLFRS 7, new categories of financial assets, classifications and presentations for financial assets and on the newer developments.
The other speakers at the event were Ernst & Young Partner Sulaiman Nishtar, Senior Deputy Commissioner General - Department of Inland Revenue H.B.A. Seneviratne, Merchant Bank of Sri Lanka PLC Chief Executive Officer T. Mutugala, Merchant Bank of Sri Lanka PLC Assistant General Manager – Finance & Treasury Management Priyantha Herath and Merchant Bank of Sri Lanka PLC Deputy General Manager – Corporate Advisory & Capital Markets A.M.A. Cader.
Financial Instruments are particularly a challenging task to understand and implement. With the Sri Lankan economy seeking avenues to consolidate within the financial sector, the importance of financial instruments in the current era has evolved to be important than ever before. This was the very reason why MBSL planned for a corporate networking session educating on financial assets.
The event was an interactive session with the speakers and the participants. Some of the key questions were on loans and advances and new classifications and disclosures, overall tax issues and even on Central Bank directions in terms of non-performing, the accounting standards, and the respective tax implications. The participants were able to clarify and clear many issues they have encountered during the new accounting standards implementation. This was the third seminar that was concluded in a successful manner on accounting standards and the implementation.
MBSL will continue to conduct these types of seminars educating corporates and individuals who have a special interest and a requirement to understand newer developments in the business world.
