Investor Presentaiton

CA T THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA LKAS 1- Presentation of Financial Statements 27th June 2012 STRUCTURE AND CONTENT IDENTIFICATION OF THE FINANCIAL STATEMENTS Financial Statements must be clearly identified and distinguished from other information in the same published document, and must identify: • Name of the reporting entity. • Whether the financial statements cover the individual entity or a group of entities. • The statement of financial position date (or the period covered). ⚫The presentation currency. • The level of rounding used. 15 Scope of the Presentation. CA T THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA LKAS 1-Presentation of Financial Statements 27th June 2012 STATEMENT OF FINANCIAL POSITION •Present Current and Non-current items separately; or •Present items in order of liquidity. *Entity shall not classify deferred tax assets (Liabilities) as current asset (Liability) Current Assets Expected to be realized in, or is intended for sale or consumption in the entity's normal operating cycle.- (if the entities normal operating cycle is not clearly identifiable it is assumed to be twelve months) Held primarily for trading. Expected to be realized within 12 months.. Cash or cash equivalents. All other assets are required to be classified as non-current. Current Liabilities • Expected to be settled in the entity's normal operating cycle. Held primarily for trading. • Due to be settled within 12 months. • The entity does not have an unconditional right to defer settlement of the liability for at least 12 months after the reporting period - this will be replaced by the 2011 amendments as follows It does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period (see paragraph 73). Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification All other liabilities are required to be classified as non-current The use of different measurement bases for different classes of assets,For example, different classes of property, plant and equipment can be carried at cost or at revalued amounts in accordance with LKAS 16. 16 Scope of the Presentation 00 8

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