Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post
Market Place

Add an ad

View all ads

Latest topics

» lOFC definitely will hit 6/-
by stockback Today at 2:51 am

» CIND , 10% guaranteed return
by Teller Today at 2:46 am

» Look PAP Amazing company
by Teller Today at 2:44 am

» Bottom of market
by Teller Yesterday at 10:52 pm

» Triple Top Reversal pattern
by Teller Yesterday at 9:16 pm

» Keep eye on Politics
by Yahapalanaya Yesterday at 6:25 pm

» BFN - PRIVATE PLACEMENT ANNOUNCEMENT TO COME SOON
by mahasona2 Yesterday at 1:00 pm

» LOFC - LDEV -EXPO ....BULL RUN TIME FOR COLLECTION ..
by mahasona2 Yesterday at 12:54 pm

» Why AAIC Should trade above RS.50/-
by wisdom79 Yesterday at 12:38 pm

» PAN ASIA POWER
by Nuwan Samarawickrama Yesterday at 10:33 am

» Aluf will be better
by wisdom79 Yesterday at 8:50 am

» Stop promoting garbage. Don’t get deceived.
by wisdom79 Yesterday at 8:46 am

» RICH is not bad @ 9/-
by Teller Yesterday at 3:18 am

» BFN බොරු සෙලින් දාලා කොහොම හරි 11 වගේ ගානට 500000 එකතු කරගන්න කියලා අර 14 ට ලක්ශයක් සෙලින් දැම්මේ මේ ටේලර් මහත්තයාම තමයි
by Teller Yesterday at 3:16 am

» Be careful with HVA and LITE
by Teller Yesterday at 3:11 am

» WATA future looks good
by Teller Wed Jun 19, 2019 10:00 pm

» If i am the EPF buyer,I will go for PLC
by Teller Wed Jun 19, 2019 9:59 pm

» LLUB Pattern reversed. Good buy @60, target +20%
by Teller Wed Jun 19, 2019 9:58 pm

» THE CURSE ON JKH
by Teller Wed Jun 19, 2019 9:04 am

» Why we should buy AEL.N0000…?
by Miss-Sangeetha Wed Jun 19, 2019 7:45 am

» The Curse Of AEL
by Yahapalanaya Tue Jun 18, 2019 11:06 pm

» Senthilverl Drives Sri Lanka Stock Market Turnover to hit Rs.2 billion
by Yahapalanaya Tue Jun 18, 2019 11:03 pm

» 8 Finance companaies to be closed very soon
by samaritan Tue Jun 18, 2019 8:52 pm

» Copreus (Pvt) Ltd - Need some Information
by Copreus Tue Jun 18, 2019 12:44 pm

» BALA can come down to 9/-
by Teller Tue Jun 18, 2019 12:27 am

» MARKET UP......BUT BFL....GRAN....TAFL......
by Trader321 Mon Jun 17, 2019 4:31 pm

» TAFL - GOLDEN EGG IN POULTRY SECTOR
by Trader321 Mon Jun 17, 2019 4:29 pm

» MGT.N0000 & TJL.N0000 keep eye.
by Trader321 Mon Jun 17, 2019 3:58 pm

» TAFL.N000 / GRAN.N0000
by Trader321 Mon Jun 17, 2019 3:57 pm

» Market will test 4700
by karuna2 Mon Jun 17, 2019 1:08 pm

» Loss-making stockbrokers may not last six months
by Miss-Sangeetha Mon Jun 17, 2019 12:51 pm

» Those who are having SUGA And HDEV (Hotel Developers)coming week you all can excpect Good News to come
by Capton KIng Cool Mon Jun 17, 2019 12:25 pm

» ECL wAS 2.8 Last week Today 4.7 .Whats Next? Acme?
by Capton KIng Cool Mon Jun 17, 2019 9:02 am

» IDL IDL IDL
by Teller Sat Jun 15, 2019 6:18 pm

» Look APLA its trending to 98LKR
by Teller Sat Jun 15, 2019 2:24 am

» SAMP Oversubscribed?
by Teller Sat Jun 15, 2019 2:13 am

» Apple Lost Sales in Europe to Chinese Firms Ahead of US Huawei Crackdown
by Teller Sat Jun 15, 2019 1:44 am

» Market is On The Rise.Market PER 8.5, EPF Has entered the market curently they are buying AEL (Access Enginering)There'r lot of counters. Rich,TkyoAsir,Amsl,Osea.CINV.EXPO,JINS and Tyre.good luck
by wisdom79 Fri Jun 14, 2019 7:55 pm

» NEXT RUN People's leasing and Finance WAIT AND WATCH ENJOY RIDE..
by ddrperera Thu Jun 13, 2019 9:25 pm

» EPF Investment in Unquated copmanies .Who is responsible Previous Centeral Bank Governer and Former Regime.
by Capton KIng Cool Thu Jun 13, 2019 9:05 am

» PDL (Property Development)
by Capton KIng Cool Thu Jun 13, 2019 8:51 am

» EAST Steady at 18
by Cricketman Thu Jun 13, 2019 5:28 am

» Guys what happen these days
by Yahapalanaya Thu Jun 13, 2019 2:29 am


You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market & Forum Help » New accounting standard – IFRS – clearer to the industry

New accounting standard – IFRS – clearer to the industry

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator
The new accounting standard "International Financial Reporting Standards" (IFRS) scheduled to be introduced to the formal banking and finance sector by 31st December 2011, has become a focal point to both the industry, regulators and auditors, a private finance company said.

Commenting on its impact on the main concern area of asset valuation to current market trends, Sinhaputhra Finance PLC's Managing Director Ravana Wijeyeratne said that based on its application certain companies may have such large gaps thus directly affecting their net book values and hence possible impacts to share prices.

In such a scenario the possibility for companies having fixed assets such as buildings and properties carrying values below market will have positive impacts, whilst the reverse could also occur and hence it depends entirely on the individual financial institution, he said in a press release.

While overall, it is still early to comment accurately, he noted that with the efforts made by the Central Bank and leading audit companies in organizing seminars; the possible impacts of IFRS are becoming clearer to the industry.

He said that whilst local accounting standards were primarily rule based in the past, the new IFRS standards would embrace a principle based system.

According to Mr. Wijeyeratne, a member of the Finance Houses Association's executive committee, the Chairman of the council Kamal Yatawara has appointed a committee headed by Shermal Jayasooriya to invite experts as well as other CFO's of the sector to formulate such a paper drawing from the experience of other countries with mature practices, and taking into account local conditions and limitations.
IFRS highlights that historical cost is not reflective of the current day, and that nobody would consider selling their stakes at net book value for this reason.

In essence IFRS reduces the gap between the Balance sheet and real market values brining in better substance to financial statements adding to investor confidence. The balance sheets of Sri Lanka with this standard in full force will be recognizable, understandable and comparable by investors globally.

“All this augurs well for international investor confidence in a market which is geared to propel with 9% growth rates requiring a doubling of GDP to US$100 billion in a matter of five years,” he added.

http://www.sundaytimes.lk/111218/BusinessTimes/bt27.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum