{"id":350,"date":"2019-07-11T23:48:43","date_gmt":"2019-07-11T23:48:43","guid":{"rendered":"http:\/\/www.doarj.org\/ijbam\/?p=350"},"modified":"2019-12-16T16:53:28","modified_gmt":"2019-12-16T16:53:28","slug":"challenges-and-obstacles-of-adopting-slfrs-as-the-convergence-with-ifrs-in-sri-lanka","status":"publish","type":"post","link":"https:\/\/www.tdoarj.org\/ijbam\/challenges-and-obstacles-of-adopting-slfrs-as-the-convergence-with-ifrs-in-sri-lanka\/","title":{"rendered":"CHALLENGES AND OBSTACLES OF ADOPTING SLFRS AS THE CONVERGENCE WITH IFRS IN SRI LANKA"},"content":{"rendered":"<p><strong>M.W.Madurapperuma<\/strong><\/p>\n<p><strong>Abstract<\/strong> :\u00a0<em>The focus of this study is mainly on providing evidence of perceptions towards the implementation of SLFRS, the way financial statements are used, what challenges and obstacles are encountered and what are the perceived benefits after the adoption of International Financial Reporting Standards (IFRSs). Empirical evidence has been gathered through interviews with key individuals in the Implementation of SLFRS. Secondary data were obtained from public statements, policies and comments. The results found that the use of SLFRS financial information is narrow. Results further showed that Users of SLFRS are facing many obstacleswhen interpretation of IFRSs mainly due to the lack of advanced technical understanding. There areinconsistencies in the application of IFRSs and the inconsistencies in actors\u2019 views about the actual benefits of IFRSs.Findings of this study suggest that CA Sri Lanka should consider the level of technical expertise of diverse profession and simplify the SLFRSs.<\/em><\/p>\n<p><strong>Keywords:<\/strong> <em>SLFRS, IFRS, Accounting standards, Challenges, Sri Lanka<\/em><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/zenodo.org\/badge\/DOI\/10.5281\/zenodo.3579280.svg\" alt=\"10.5281\/zenodo.3579280\" data-toggle=\"modal\" data-target=\"[data-modal='10.5281\/zenodo.3579280']\" \/><\/p>\n<p>Full Text:\u00a0<a class=\"file\" href=\"https:\/\/www.tdoarj.org\/ijbam\/wp-content\/uploads\/2019\/IJBAM\/6\/5.pdf\">PDF<\/a><\/p>\n\n<div class=\"gde-error\">GDE Error: Error retrieving file - if necessary turn off error checking (404:Not Found)<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>M.W.Madurapperuma Abstract :\u00a0The focus of this study is mainly on providing evidence of perceptions towards the implementation of SLFRS, the way financial statements are used, what challenges and obstacles are encountered and what are the perceived benefits after the adoption of International Financial Reporting Standards (IFRSs). Empirical evidence has been gathered through interviews with key [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/posts\/350"}],"collection":[{"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/comments?post=350"}],"version-history":[{"count":2,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/posts\/350\/revisions"}],"predecessor-version":[{"id":404,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/posts\/350\/revisions\/404"}],"wp:attachment":[{"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/media?parent=350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/categories?post=350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tdoarj.org\/ijbam\/wp-json\/wp\/v2\/tags?post=350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}