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The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. [1]
Students in Grade 13 had the second-highest depression and anxiety scores, with examination-related issues being the most commonly cited problem. Of the 445 students assessed, 22.9% of Grade 12 students and 28.6% of Grade 13 students reportedly had severe depression , while 28.6% of Grade 12 students and 32.1% of Grade 13 students experienced ...
Historical Cost Accounting, i.e., financial capital maintenance in nominal monetary units, is based on the stable measuring unit assumption under which accountants simply assume that money, the monetary unit of measure, is perfectly stable in real value for the purpose of measuring (1) monetary items not inflation-indexed daily in terms of the ...
The accounting equation plays a significant role as the foundation of the double-entry bookkeeping system. The primary aim of the double-entry system is to keep track of debits and credits and ensure that the sum of these always matches up to the company assets, a calculation carried out by the accounting equation.
The term generally accepted accounting principles (GAAP) was popularized in the late 1930s. [1] [better source needed] Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. [2]
Students who are pursuing tertiary education must pass the G.C.E O/Ls in order to enter the collegiate level to study for another 2 years (grades 12-13) to sit for the G.C.E Advanced Level. On successful completion of this exam, students can move on to tertiary education , therefore the GCE A/Ls is the university entrance exam in Sri Lanka.
Sinhala had its numerals (Sinhala illakkam), which were used from prior to the fall of Kandyan Kingdom in 1815. They can be seen primarily in Royal documents and artefacts. Sinhala Illakkam did not have a zero, but did have signs for 10, 20, 30, 40, 50, 60, 70, 80, 90, 100, 1000. This system has been replaced by the Hindu–Arabic numeral system.
Profit, in accounting, is an income distributed to the owner in a profitable market production process . Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production.