Merchant Bank seminar on accounting standards
The Merchant Bank of Sri Lanka PLC (MBSL) conducted a seminar
recently on accounting standards and related tax issues for financial
instruments. Over 120 people who were keen on the finance streams of
different industries were present.
Senior Partner of Ernst and Young, Manil Jayesinghe, the main
speaker, covered in-depth - impairment of financial assets especially in
financial institutions, LKAS 32, 39 and SLFRS 7, new categories of
financial assets, classifications and presentations of financial assets
and on newer developments.
The other speakers were Partner, Ernst and Young, Sulaiman Nishtar,
Senior Deputy Commissioner General, Department of Inland Revenue, H B A
Seneviratne, Chief Executive Officer, Merchant Bank, T Mutugala,
Assistant General Manager, Finance and Treasury Management, Merchant
Bank, Priyantha Herath and Deputy General Manager, Corporate Advisory
and Capital Markets, Merchant Bank, A M A Cader.
Financial instruments are a challenging task to understand and
implement. With Sri Lankan's economy seeking avenues to consolidate
within the financial sector, financial instruments have evolved to be
more important than ever before. |