SLFRS Certification Course

The e-learning course provides a detailed review of all significant technical Sri Lanka Accounting Standards (SLFRS) requirements. It includes case studies, examples, and exercises to cover the SLFRSs. This all-inclusive e-learning course helps participants to acquire the tools necessary to understand and apply SLFRSs and prepare SLFRS financial statements. The programme includes the latest pronouncements, and participants are brought up-to-date on all topics.

The course is ideal for individuals at all levels within an organization who need to have detailed knowledge of SLFRSs. In essence, it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions and preparing, reviewing or approving SLFRS financial statements. The programme is generic and does not focus on any single industry.

     Topics

• Introduction to IFRSs/SLFRSs
  • Brief history of IFRSs
  • Convergence with IFRSs in Sri Lanka
  • Conceptual framework
  • Fair value measurement (SLFRS13)
• Content of SLFRS Financial Statements
  • Presentation of financial statements (LKAS 1)
  • Statement of cash flows (LKAS 7)
  • Accounting policies, changes in accounting estimates and errors (LKAS 8)
  • Events after the reporting period (LKAS 10)
  • Operating segments (SLFRS 8)
  • Related party disclosures (LKAS 24)
  • Earnings per share (LKAS 33)
  • Interim financial reporting (LKAS 34 and IFRIC 10)
  • Discontinued operations (SLFRS 5)
• Assets
  • Inventories (LKAS 2)
  • Construction contracts (LKAS 11 and IFRIC 15)
  • Property, plant & equipment (LKAS 16)
  • Borrowing costs (LKAS 23)
  • Intangible assets (LKAS 38)
  • Investment property (LKAS 40)
  • Impairment of assets (LKAS 36)
  • Non-current assets held for sale (SLFRS 5)
• Liabilities
  • Leases (LKAS 17, SIC-27, and IFRIC 4)
  • Employee benefits (LKAS 19 and IFRIC 14)
  • Provisions, contingent liabilities and contingent assets (LKAS 37)
  • Share-based payment (SLFRS 2)
• Financial Instruments
  • Financial assets and liabilities, hedging and derivatives (LKAS 32, LKAS 39, SLFRS 9)
  • Financial instrument disclosures (SLFRS 7)
• Income Taxes
  • Income taxes (LKAS 12)
• Revenue Recognition Issues
  • Revenue (LKAS 18, IFRIC 13 and 18)
  • Construction contracts (LKAS 11)
• Foreign Currency Issues
• The effects of changes in foreign exchange rates (LKAS 21)
• Business Combinations, Consolidations, Associates and Joint Arrangements
  • Business combinations (SLFRS 3)
  • Consolidated financial statements (SLFRS 10)
  • Investments in associates and joint ventures (LKAS 28)
  • Joint arrangements (SLFRS 11)
  • Disclosure of interests in other entities (SLFRS 12)
• Review of Specialized Areas
  • Accounting for government grants and disclosure of government assistance (LKAS 20)
  • Accounting and reporting by retirement benefit plans (LKAS 26)
  • Financial reporting in hyperinflationary economies (LKAS 29)
• Transitioning to SLFRSs
  • First-time adoption of SLFRSs (SLFRS 1)
• Expected Future Developments in IFRSs/SLFRSs

Teaching method

• Online learning
• Description and explanation of SLFRSs in clear and simple language
• Use of case studies and real-world examples to illustrate practical application of the standards
• Facilitate self-evaluation through Q & A sessions

Prerequisites

Understanding of basic accounting principles based on IFRSs/SLFRSs. No advance preparation is required for this course.

CPD Accredited

Investment:

              CA Students                               LKR. 4,000

              CA Members/Academia             LKR. 7,000

              Others                                        LKR. 9,000

Certification Process:

After completion of your learning, we encourage you to sit for the final examination to be awarded with the certification. You have to score 50 marks or above, to be successful at the examination.

Contact us:

SLFRS.elearning@casrilanka.org

Thanuja on 011-2352000 Ext : 1463

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Frequently Asked Questions (FAQs)

1.     How many CPD hours that I’m entitled for?

Upon successful completion of the SLFRS Online Certification Course and passing the final examination, you are entitled for twenty CPD hours. If you are not a member of the Institute of Chartered Accountants of Sri Lanka, you could request a letter for the purpose of claiming CPD from any other Institution. However, upon successfully completion of the final examination, you would get a certificate from the Institute of Chartered Accountants of Sri Lanka.

2.     What is the Investment for this course?

CA Students                                 LKR. 4,000

CA Members/Academia               LKR. 7,000

Others                                          LKR. 9,000

3. Do I need to have prerequisites to enroll the course?

No advance preparation is required for this course. We believe that you at least possess basic knowledge and understand basic accounting principles based on IFRSs/SLFRSs.

4. How the certification process works?

After completion of your learning, we encourage you to sit for the final examination, to be awarded with the certification. You have to score 50 marks or above, to be successful at the examination. The duration of the examination would be two hours for you to attempt for fifty Multiple Choice Questions (MCQs).  

5. What is the content of this course?

This course includes the learning materials in presentation format, case studies, exercises, self-learning questions with answers and recorded webinars to enhance your knowledge on SLFRSs.

Once you login to the course, you would view the list of chapters and then you could start your learning.

6. What is the procedure to enrol for the course?

  If you are a student / member of CA Sri Lanka, you may use the same username and password that you are using to login to your profile in the official web page of CA Sri Lanka. If you are a new user to the course, first fill the required details to register for the course.