Course Code :


Title :

Advanced Financial Accounting

Type/Status :


aaaaaaaaaaaa Aims :

This course module is designed to enhance student’s knowledge and understanding of company liquidation in accordance with the companies act no.07 of 2007 and prepare consolidated financial statement in accordance with the relevant accounting standards.

Learning Outcome : aaaaaaaaaaaaaaaa
By the end of this course unit students should be able to:
  • understand the relevant sections in companies act which are applicable to company liquidation
  • prepare accounts and statements for company liquidation
  • prepare comprehensive consolidated financial statements with relevant standards


Course Content : Company accounts; Company Liquidation


Consolidated financial statements;

SLFRS 3 – Business Combination, LKAS 27 – Consolidated & Separate Financial Statements, LKAS 28 – Investment in Association, LKAS 31 – Interest in Joint Ventures, Preparation of Consolidated Financial Statements including sub subsidiary (Statement of Financial position, Statement of financial performance & Statement of Cash flow).

Method of Teaching & Learning:

Lectures, Tutorials, Class room discussions

Scheme of Evaluation:

End semester examination, Assignments & Midterm tests

The weights given to each component of the evaluation method is announced at the commencement of the module.

Recommended Readings:

Companies Act.No.7 of  2007.

Maheshwari, S. N., & Maheshwari, S. N. (2009). Advanced Accountancy (10th ed., Vol. 02). Vikas Publishing.

Shakul, M. C., & Grewal, T. S. (2006). Advanced Accounts (16 ed., Vol. 02). S. Chand & Company Ltd.

Wood, F., & Sangster, A. (2007). Business Accounting 02. Pitman Publishing.

Sri Lanka Accounting Standards (2011), Institute of Chartered Accountants of Sri Lanka, Sri Lanka.