STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
 
SRI LANKA ACCOUNTING STANDARDS - 2013

NUMBER

NAME OF THE STANDARD

EFFECTIVE
DATE (IFRS/IAS)

RELEVANT
SLFRS

EFFECTIVE
DATE (SLFRS/LKAS)

IFRS 1

 

First-time Adoption of International Financial Reporting Standards

1/7/2009

SLFRS 1

01/01/2013

IFRS 2

Share-based Payments

1/1/2005

SLFRS 2

01/01/2013

IFRS 3

Business Combinations

1/7/2009

SLFRS 3

01/01/2013

IFRS 4

Insurance Contracts

1/1/2005

SLFRS 4

 01/01/2013

IFRS 5

Non-current Assets Held for Sale and Discontinued Operations

1/1/2005

SLFRS 5

 01/01/2013

IFRS 6

Exploration for and Evaluation of Mineral Resources

1/1/2006

SLFRS 6

01/01/2013

IFRS 7

Financial Instruments: Disclosures

1/1/2007

SLFRS 7

01/01/2013

IFRS 8

Operating Segments

1/1/2009

SLFRS 8

01/01/2013

IFRS 9

Financial Instruments

1/1/2015

Not Adopted

-

IFRS 10

 Consolidated Financial Statements

1/1/2013

Not Adopted

-

IFRS 11

 Joint Arrangements

1/1/2013

Not Adopted

-

IFRS 12

 Disclosure of Interests in Other Entities

1/1/2013

Not Adopted

-

IFRS 13

 Fair Value Measurement

1/1/2013

Not Adopted

-

 

 

 

 

 

 

 

 

 

 

 

 

 
STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
 
SRI LANKA ACCOUNTING STANDARDS - 2013

NUMBER

NAME OF THE STANDARD

EFFECTIVE DATE

RELEVANT LKAS

EFFECTIVE DATE

IAS 1

Presentation of Financial Statements

1/1/2009

LKAS 1

01/01/2013

IAS 2

Inventories

1/1/2005

LKAS 2

01/01/2013

IAS 7

Statement of Cash Flows

1/1/1994

LKAS 7

01/01/2013

IAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

1/1/2005

LKAS 8

01/01/2013

IAS 10

Events after the Reporting Period

1/1/2005

LKAS 10

01/01/2013

IAS 11

Construction Contracts

1/1/1995

LKAS 11

01/01/2013

IAS 12

Income Taxes

1/1/1998

LKAS 12

01/01/2013

IAS 16

Property, Plant and Equipment

1/1/2005

LKAS 16

01/01/2013

IAS 17

Leases

1/1/2005

LKAS 17

01/01/2013

IAS 18

Revenue

1/1/1995

LKAS 18

01/01/2013

IAS 19

Employee Benefits (R)

1/1/2013

LKAS 19

01/01/2013

IAS20

Accounting for Government Grants and Disclosure of Government Assistance

1/1/1984

LKAS 20

01/01/2013

IAS 21

The Effects of Changes in Foreign Exchange Rates 

1/1/2005

LKAS 21

01/01/2013

IAS 23

Borrowing Costs

1/1/2009

LKAS 23

01/01/2013

IAS 24

Related Party Disclosures

1/1/2011

LKAS 24

01/01/2013

IAS 26

Accounting and Reporting by Retirement Benefit Plans

1/1/1998

LKAS 26

01/01/2013

IAS 27

Consolidated and Separate Financial Statements

Separate Financial Statements

1/1/2005

1/1/2013

LKAS 27

01/01/2013

Not Adopted

IAS 28

Investments in Associates

Investments in Associates and Joint ventures

1/1/2005

1/1/2013

LKAS 28

01/01/2013

Not Adopted

IAS 29

Financial Reporting in Hyperinflationary Economies

1/1/1990

LKAS 29

01/01/2013

IAS 31

Interests in Joint Ventures
Superseded by IFRS 11

1/1/2005

LKAS 31

01/01/2013

IAS 32

Financial Instruments: Presentation

1/1/2005

LKAS 32

01/01/2013

IAS 33

Earnings per Share

1/1/2005

LKAS 33

01/01/2013

IAS 34

Interim Financial Reporting

1/1/1999

LKAS 34

01/01/2013

IAS 36

Impairment of Assets

3/31/2004

LKAS 36

01/01/2013

IAS 37

Provisions, Contingent Liabilities and Contingent Assets

1/7/1999

LKAS 37

01/01/2013

IAS 38

Intangible Assets

3/31/2004

LKAS 38

01/01/2013

IAS 39

Financial Instruments: Recognition and Measurement

1/1/2005

LKAS 39

01/01/2013

IAS 40

Investment Property

1/1/2005

LKAS 40

01/01/2013

IAS 41

Agriculture

1/1/2003

LKAS 41

01/01/2013

 

STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
 
SRI LANKA ACCOUNTING STANDARDS - 2011
NUMBER NAME OF THE STANDARD EFFECTIVE
DATE
RELEVANT
SLAS
EFFECTIVE
DATE

IFRS 1

First-time Adoption of  International Financial Reporting Standards

1/7/2009

SLFRS 1

01/01/2012

IFRS 2

Share-based Payment

1/1/2005

SLFRS 2

01/01/2012

IFRS 3

Business Combinations

1/7/2009

SLFRS 3

01/01/2012

IFRS 4

Insurance Contracts

1/1/2005

SLFRS 4

01/01/2012

IFRS 5

Non-current Assets Held for Sale and Discontinued Operations

1/1/2005

SLFRS 5

01/01/2012

IFRS 6

Exploration for and Evaluation of Mineral Resources

1/1/2006

SLFRS 6

01/01/2012

IFRS 7

Financial Instruments: Disclosures

1/1/2007

SLFRS 7

01/01/2012

IFRS 8

Operating Segments

1/1/2009

SLFRS 8

01/01/2012

IFRS 9

Financial Instruments

1/1/2013

NOT
ADOPTED

-

IFRS 10

 Consolidated Financial Statements

1/1/2013

NOT
ADOPTED

-

IFRS 11

 Joint Arrangements

1/1/2013

NOT
ADOPTED

-

IFRS 12

 Disclosure of Interests in Other Entities

1/1/2013

NOT
ADOPTED

-

IFRS 13

 Fair Value Measurement

1/1/2013

NOT
ADOPTED

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
 
SRI LANKA ACCOUNTING STANDARDS - 2011

NUMBER

NAME OF THE STANDARD

EFFECTIVE
DATE

RELEVANT
LKAS

EFFECTIVE
DATE

IAS 1

Presentation of Financial Statements

1/1/2009

LKAS 1

01/01/2012

IAS 2

Inventories

1/1/2005

LKAS 2

01/01/2012

IAS 7

Statement of Cash Flows

1/1/1994

LKAS 7

01/01/2012

IAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

1/1/2005

LKAS 8

01/01/2012

IAS 10

Events after the Reporting Period

1/1/2005

LKAS 10

01/01/2012

IAS 11

Construction Contracts

1/1/1995

LKAS 11

01/01/2012

IAS 12

Income Taxes

1/1/1998

LKAS 12

01/01/2012

IAS 16

Property, Plant and Equipment

1/1/2005

LKAS 16

01/01/2012

IAS 17

Leases

1/1/2005

LKAS 17

01/01/2012

IAS 18

Revenue

1/1/1995

LKAS 18

01/01/2012

IAS 19

Employee Benefits

1/1/1999

LKAS 19

01/01/2012

IAS20

Accounting for Government Grants and Disclosure of Government Assistance

1/1/1984

LKAS 20

01/01/2012

IAS 21

The Effects of Changes in Foreign Exchange Rates 

1/1/2005

LKAS 21

01/01/2012

IAS 23

Borrowing Costs

1/1/2009

LKAS 23

01/01/2012

IAS 24

IAS 24 [R]

Related Party Disclosures

Related Party Disclosures

1/1/2005

1/1/2011

LKAS 24

NOT ADOPTED

01/01/2012

-

IAS 26

Accounting and Reporting by Retirement Benefit Plans

1/1/2005

LKAS 26

01/01/2012

IAS 27

Consolidated and Separate Financial Statements

1/1/2005

LKAS 27

01/01/2012

IAS 28

Investments in Associates

1/1/2005

LKAS 28

01/01/2012

IAS 29

Financial Reporting in Hyperinflationary Economies

1/1/1990

LKAS 29

01/01/2012

IAS 31

Interests in Joint Ventures

1/1/2005

LKAS 31

01/01/2012

IAS 32

Financial Instruments: Presentation

1/1/2005

LKAS 32

01/01/2012

IAS 33

Earnings per Share

1/1/2005

LKAS 33

01/01/2012

IAS 34

Interim Financial Reporting

1/1/1999

LKAS 34

01/01/2012

IAS 37

Provisions, Contingent Liabilities and Contingent Assets

1/7/1999

LKAS 37

01/01/2012

IAS 38

Intangible Assets

3/31/2004

LKAS 38

01/01/2012

IAS 39

Financial Instruments: Recognition and Measurement

1/1/2005

LKAS 39

01/01/2012

IAS 40

Investment Property

1/1/2005

LKAS 40

01/01/2012

IAS 41

Agriculture

1/1/2003

LKAS 41

01/01/2012

 

 

 


 

 

 

 

 

 

 

 

 

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