Course Code :


Title :

Advanced Financial Reporting

Type/Status :


aaaaaaaaaaaa Aims :
This course module is designed to enhance student’s knowledge regarding Sri Lanka Accounting Standards and applicability of those standards to the business organizations including small & medium enterprises & understand the other reporting aspects and current development in financial reporting.
Learning Outcome : aaaaaaaaaaaaaaaa
By the end of this course unit students should be able to:
  • understand conceptual & regulatory framework for financial reporting.
  • application of Sri Lanka Accounting Standards to the skill level specified to resolve practical issues that may arise in financial reporting.
  • Understand reports and information other than financial statements in an annual report

Course Content : Conceptual and Regulatory Framework for Financial Reporting; Sri Lanka Accounting Standards;

Share based payment, Insurance Contracts, Non Current Assets Held for Sale a Discontinued Operations, Exploration for the Evaluation of Mineral Resources, Financial Instrument, Operating Segments, Income Taxes, Employee Benefits, Accounting for Government Grants & Disclosure of Government Assistance, The Effects of Change in Foreign Exchange Rates, Related Party Disclosures, Financial Reporting in Hyperinflationary Economics, Earning per share, Interim Financial Reporting, Impairment of Assets, Intangible Assets, Investment Property, Agriculture. SLFRS for Small & Medium size Entities.

Other Reporting Aspects & Current Development; Environmental and social reporting, Sustainability reporting

Method of Teaching & Learning:

Lectures, Tutorials

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:

Accountants of Sri Lanka, Sri Lanka.

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

Sri Lanka Accounting Standards for Small & Medium Sized Entities (SLFRS for SME’s), (2011), Institute of Chartered

The Sustainability Reporting Framework, Global Reporting Initiative