Error
  • JFolder::create: Could not create directory

aat_exam_results

Poison for the brain – an insight to Psychology in Finance By Mr.Chaaminda Kumarasiri

 

Poison for the brain – an insight to Psychology in Finance

 

Finance professionals are often thought to be cold and rigid. This is related to the fact that all thoughts about money makes people less inclined to appreciate the good things in life and also makes them less inclined to show emotions. This stems from the fact that there is a difference in how we react based on the amount of money involved in the decision. It is triggered based on the persons’ priorities.

 

Mr.Chaaminda Kumarasiri, the Founder/CEO of The Human Capital Partner and the Chairman/Principal Consultant at HCP Consulting (Pvt) Ltd. shared this valuable insight into the characteristic of Accountants, Chief Financial Officers and other persons in the finance sphere at his interactive presentation at AAT for its Members on 28th of August. It was a session in great demand where registrations closed over a week ago.

 

He stressed the importance of identifying the priority level each person gives to money in your life because a person’s attitude towards money registers in the sub-conscious mind. In turn the sub-conscious mind over-rides the person’s values - i.e: a person’s thought process over-rides all decisions. This is an important fact to remember as a person’s sub-conscious mind grows over the years and ultimately “programmed” to take decisions since 96% of decisions are governed by the sub-conscious mind. Mr.Kumarasiri reflected on the importance of identifying one’s money psychology – Money avoidant, Money Status seeker, Money worshipper or Money vigilant.

 

 

Financial reporting in the wake of new tax regulations “Tax Reforms;Tagging on to smart financial reporting”

 

Financial reporting in the wake of new tax regulations “Tax Reforms;Tagging on to smart financial reporting”

 

The 17th of July marked the successful completion of a dynamic seminar organized by the Conference and Seminar Committee of the Association of Accounting Technicians (AAT) where the changes in tax regulations were interpreted in financial reporting language. It was a successful event which was well patronized by AAT members and non-members.

 

This seminar was organized covering the varying financial reporting obligations stemming from the new tax regulations. The objective of the seminar was to address the areas of transition from both an accounting and tax perspective. The seminar was instigated by the changes to financial reporting obligations which were resulting from the introduction of the Inland Revenue Act No. 24 of 2017. The Act came to effect from 01st April, 2018 and brought about the necessity for corporates and accounting professionals to consider their Accounting Practices and Financial Reporting more strategically than ever.

 

Key areas that were covered at this seminar were;

 

(1). Key changes arising as a result of the new Tax Law

  • (2). Transitional provisions arising therein
  • (3). Impact of changes in financial reporting including Deferred tax , Revenue recognition in the context of SLFRS 15 , Leases in the context of SLFRS 16 , Financial instruments in the context of SLFRS 09 , Investments in subsidiaries associates and JV’s in parents’ separate financials and Investment entities in the context of SLFRS 10

     

    The seminar was presented combining two fields of study – taxation and financial reporting, where the eminent presenters Ms. Sarah Afker and Mr. Nishan Fernando blended their presentation so well to present the areas of focus together. This was instrumental in making the core of the seminar easy to understand.

     

    Mr. Nishan Fernando, a well-known presenter in the sphere of finance, is the Managing Director of BDO Consulting (Pvt.) Ltd. He has functioned as the President of the Institute of Chartered Accountants of Sri Lanka. Mr. Fernando is an Associate Member of the Chartered Institute of Management Accountants and he has also been a member of the International Accounting Education Standards Board of the International Federation of Accountants (IFAC) and currently serves as a member of its Consultative Advisory Group.

     

    Ms. Sarah Afker is the Director, Tax Services of BDO Partners. She is an Associate Member of the Institute of Chartered Accountants of Sri Lanka and an Associate Member of the Chartered Institute of Management Accountants. She is also a Member of the Chartered Institute for Securities and Investment (UK).

     

    The event was graced by the CEO of AAT, the President and several Council Members. The audience raised several questions to the presenters, which were duly answered.

     

     

    15th Annual Conference

     

    Conference 2017

     

    Conference 2017

     

    AAT Sri Lanka deliberates on Change: Challenge to an Opportunity at its 15th Annual Conference on 10-11 October, 2017

     

    The most awaited annual event of the Association, the 15th Annual Conference of AAT Sri Lanka was hosted on 10th and 11th of October 2017 (Tuesday & Wednesday), at Hotel Waters edge, Battaramulla. Deliberating on the all-important theme “Change: Challenge to an Opportunity”, the Conference was inaugurated in the evening of 10th October 2017 followed by fellowship.

     

    The inauguration was graced by H.E. Maithripala Sirisena- President of the Democratic Socialist Republic of Sri Lanka as the Chief Guest, while Hon. (Dr.) Harsha de Silva – Deputy Minister of National Policies and Economic Affairs. And Mr. Ranjan Perera - Executive Director of Softlogic Holdings PLC graced the occasion as the Guests of Honour.

     

    Inspiring Technical Sessions to address the issues of the main theme of the conference commenced on the 11th contributed by eminent resource personnel. “Robotics/Artificial Intelligence taking over”, “Valuation of Innovative Businesses”, “Changes to the playing field” & “Latest developments in Income Tax” were among the main topics on which the technical sessions were based, highlighting the challenges to opportunities.

     

    The conference facilitated the exchange of profound expertise of 16 resource personnel in chosen fields and attracted over 500 participants from all over the country. Over the years, AAT Sri Lanka Conferences have built up a reputation as a thought provoking summit spurring insights on broad economic and business issues apart from its core emphasis on finance related topics. The participants included business leaders, policy makers, senior financial professionals, AAT Sri Lanka members and other interested dignitaries.

     

    Participating in the Conference certainly added value to knowledge and shaped up skills on many aspects demanded by both the profession and the personal requirements of the participants. In addition, the Conference served as a platform to network with the AAT Sri Lanka fraternity to strengthen the solidarity of this formidable organization.

     

    Please feel free to contact Chathura on 0773-559 669 if you need further clarification click on http://www.aatsl.lk/membership/events/conference.html

     

     

     

     

     

    Read more
  •  

     

    Annual Report 2017/18

     

     
    revised-syllabus
     
    Subscribe
     
     

    Google+