Accounting in Sri Lanka

SLFRS 15 – Revenue from Contracts with Customers

February 18, 2019
Published in Audit and Assurance, SLFRS
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The Institute of Chartered Accountants of Sri Lanka (CASL) published Revenue from contracts with Customers (SLFRS 15) effective as of 1st January 2018. The new standard establishes a comprehensive framework to determine when to recognise revenue and how much revenue to recognise. Why do you need for a change in…

SLFRS 9 – FINANCIAL INSTRUMENTS – IMPAIRMENT

February 18, 2019
Published in Audit and Assurance, SLFRS
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FINANCIAL-INSTRUMENTS-–-IMPAIRMENT-IN-SRI-LANKA

Who needs to register for Employer’s Provident Fund (EPF)?

January 7, 2019
Published in Employment Law
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In accordance with the EPF Act No 15 of 1958, all entities, with the exception of following types of entities need to register for EPF: Public organisations such as government departments Organisations run only by family members Charitable or social service organisations with a workforce of less than 10 persons…