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

 

 

STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
NUMBER NAME OF THE STANDARD EFFECTIVE
DATE		 RELEVANT
SLAS		 EFFECTIVE
DATE
IFRS-1 First-time Adoption of International Financial Reporting Standards 1/1/2004 NOT ADOPTED -
IFRS-2 Share-based Payments

1/1/2005

 NOT ADOPTED
-
IFRS-3 Business Combinations 31/3/2005 SLAS 25 01/06/05
IFRS-4 Insurance Contracts 1/1/2005 NOT ADOPTED  
IFRS-5 Non-current Assets Held for Sale and Discontinued Operations 1/1/2005 SLAS 38 01/04/06
IFRS 6 Exploration for and Evaluation of Mineral Resources 1/1/2005 NOT ADOPTED -
IFRS 7 Financial Instruments:Disclosures 1/1/2007 NOT ADOPTED -
IFRS 8 Operating Segments 1/1/2009 NOT ADOPTED -
STATUS OF SRI LANKA ACCOUNTING STANDARDS IN RELATION TO INTERNATIONAL ACCOUNTING STANDARDS
NUMBER NAME OF THE STANDARD EFFECTIVE DATE RELEVANT SLAS EFFECTIVE DATE
IAS 1 Presentation of Financial Statements 1/1/2005 SLAS 3 1/1/2006
IAS 1 [R1] Presentation of Financial Statements (Revision 2006) 1/1/2006 NOT ADOPTED -
IAS 1 [R2] Presentation of Financial Statements (Revision 2007) 1/1/2007 NOT ADOPTED -
IAS 2 Inventories 1/1/2005 SLAS 5 1/1/2006
IAS 7 Cash Flow Statements 1/1/1994 SLAS 9 1/1/1996
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 1/1/2005 SLAS 10 1/1/2006
IAS 10 Events after the Balance Sheet Date 1/1/2005 SLAS 12 1/1/2006
IAS 11 Construction Contracts 1/1/1995 SLAS 13 1/1/1996
IAS 12 Income Taxes 1/1/2001 SLAS 14 1/1/2006
IAS 14 Segment Reporting WITHDRAWN SLAS 28 4/1/2000
IAS 16 Property, Plant and Equipment 1/1/2005 SLAS 18 1/1/2006
IAS 17 Leases 1/1/2005 SLAS 19 1/1/2006
IAS 18 Revenue 1/1/1995 SLAS 29 1/1/1996
IAS 19[R] Employee Benefits 1/1/1999 SLAS 16
1/7/2007
IAS20 Accounting for Government Grants and Disclosure of Government Assistance 1/1/1984 SLAS 24 4/1/1991
IAS 21 The Effects of Changes in Foreign Exchange Rates  1/1/2005 SLAS 21 1/1/2006
IAS 21 [R] The Effects of Changes in Foreign Exchange Rates (Revision 2006) 1/1/2006 NOT ADOPTED -
IAS 23 Borrowing Costs 1/1/1995 SLAS 20 1/1/1996
IAS 24 Related Party Disclosures 1/1/2005 SLAS 30 1/1/2006
IAS 25 Accounting For Investments WITHDRAWN SLAS 22 4/1/1991
IAS 26 Accounting and Reporting by Retirement Benefit Plans 1/1/1988 SLAS 42 1/1/2006
IAS 27 Consolidated and Separate Financial Statements 1/1/2005 SLAS 26 1/1/2006
IAS 28 Investments in Associates 1/1/2005 SLAS 27 1/1/2006
IAS 29 Financial Reporting in Hyperinflationary Economies 1/1/1990 NOT ADOPTED -
IAS 30 Revenue Recognition and Disclosures in the Financial Statements of Banks & Similar Financial  Institutions WITHDRAWN

SLAS 23
SLAS 33

4/1/1992
4/1/1995
IAS 31 Interests in Joint Ventures 1/1/2005 SLAS 31 1/1/2006
IAS 32 Financial Instruments:Presentation 1/1/2005 NOT ADOPTED -
IAS 33 Earnings per Share 1/1/2005 SLAS 34 1/1/2006
IAS 34 Interim Financial Reporting 1/1/1999 SLAS 35 1/1/2002
IAS 36 Impairment of Assets 3/31/2004 SLAS 41 4/1/2005
IAS 37 Provisions, Contingent Liabilities and Contingent Assets 7/1/1999 SLAS 36 4/1/2002
IAS 38 Intangible Assets 7/1/1999 SLAS 37 1/1/2003
IAS 38 [R] Intangible Assets (Revision 2004) 3/31/2004 NOT ADOPTED -
IAS 39 Financial Instruments:Recognition and Measurement 1/1/2005 NOT ADOPTED -
IAS 40 Investment Property 1/1/2005 SLAS 40 1/1/2006
IAS 41 Agriculture 1/1/2003 NOT ADOPTED -
  Plantations - SLAS 32 1/1/1994

 


 

 

 

 

 

 

 

 

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