CA Sri Lanka focuses on SME development

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has organised three programs focusing on Small and Medium Sized Entity (SME) development with Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ).

A seminar on Sri Lanka Accounting Standard for Medium Sized Entities (SLFRS for SMEs) was held at Solis Hotel, Matara on April 30. It was conducted by Technical Head at CA Sri Lanka, Upendra Wijesingha.

The seminar which targeted CFOs, accountants and auditors of SMEs, gave participants a thorough understanding of the financial reporting framework for SMEs and the benefits of adopting SLFRS for SMEs.

They were educated on entities which are eligible for SLFRS for SMEs, principles in SLFRS for SMEs and the difference between SLFRS for SMEs versus full SLFRS.

Wijesingha also focussed on developing an accounting system complying with SLFRS for SMEs.

CA Sri Lanka will also conduct two separate training programs on Computerised Accounting Package - Sage 50 at IDM Nations Campus in Matara on Wednesday and at ESOFT Computer Studies in Badulla on Thursday.

The training programs to be conducted by Managing Director, Perfect Business Solution Services (Pvt) Ltd, Madura Gamanayaka targets accountants and other professionals to improve their knowledge of computerised accounting in relation to SMEs.

Gamanayaka will cover a multitude of areas including computerised accounting systems and its environment, processing techniques used for computerised accounting, computerised trading with main modules, G-L with cash book and bank reconciliation, accounts payable and receivable ledger, financial and cash flow budgets and financial reporting.