CMA seminar on new developments in SLAS (LKAS/SLFRS)

Wednesday, 12 March 2014 01:08 - - {{hitsCtrl.values.hits}}

A workshop on New Developments in SLAS (LKAS/SLFRS) was organised by the Institute of Certified Management Accountants of Sri Lanka (CMA) on 11 February 2014 at the Distance Learning Centre at SLIDA. This workshop was conducted by personnel from Ernst & Young Sri Lanka’s Financial Accounting Advisory Services (FAAS) and Professional Practice Development (PPD) who proves extensive experience and in-depth knowledge in applying Sri Lanka Accounting Standards equivalent to International Financial Reporting Standards in providing IFRS related consultancy services for large financial services organisations, diversified organisations, and multinationals including public sector organisation. The panel consists of IFRS accredited trainers and key note speakers of IFRS forums. Three illustrious speakers shared theoretical and actual experience in applying and interpreting the key concepts on the following subject matter:

Consolidated financial statements – SLFRS 10
Joint Arrangement – SLFRS 11
Fair Value Measur-ement – SLFRS 13
Disclosure of interests in other entities – SLFRS 12
Employee Benefits – LKAS 19

This workshop provided insight into the new ‘control model’ and arrangements that may qualify for consolidation; accounting for joint venture arrangements and impact of equity accounting for joint ventures; disclosures for investment in other entities and minority interest; principles of new fair value measurement standards and amendments in employee benefits standards. At the end of the workshop certificates were awarded to participants.