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On 29 July 1987, Indo-Sri Lanka Accord was signed between Indian Prime Minister Rajiv Gandhi and Sri Lankan President J.R. Jayewardene which stated the devolution of powers to the provinces. [3] Hence on 14 November 1987 the Sri Lankan Parliament passed the 13th Amendment to the 1978 Constitution of Sri Lanka and the Provincial Councils Act No ...
Agreement on Persons of Indian Origin in Ceylon, 1964. The Sirima–Shastri Pact or Srimavo-Shastri Pact (also known as the Indo-Ceylon Agreement and Bandaranaike-Shastri Pact) was an agreement that was signed between Sirimavo Bandaranaike, the Prime Minister of Sri Lanka, and Lal Bahadur Shastri, the Prime Minister of India, on 30 October 1964.
Government of Sri Lanka. The Government of Sri Lanka ( GoSL) ( Sinhala: ශ්රී ලංකා රජය, romanized: Śrī Lankā Rajaya; Tamil: இலங்கை அரசாங்கம்) is a Semi-presidential republic determined by the Sri Lankan Constitution. It administers the island from both its commercial capital of Colombo ...
t. e. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [ 1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable ...
The International Accounting Standards Committee ( IASC) was founded in June 1973 in London at the initiative of Sir Henry Benson, former president of the Institute of Chartered Accountants in England and Wales. The IASC was created by national accountancy bodies from a number of countries with a view to harmonizing the international diversity ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
Sri Lanka is the world's fourth-largest producer of tea. In 1995, it was the world's leading exporter of tea (rather than producer), with 23% of the total world export, and Sri Lanka ranked second on tea export earnings in 2020 [ 2] after China. The highest production of 340 million kg was recorded in 2013, while the production in 2014 was ...
IAS 37 was originally issued by the International Accounting Standards Committee in 1998, superseding IAS 10: Contingencies and Events Occurring after the Balance Sheet Date, and was adopted by the IASB in 2001. [ 1] It was seen as an "important development" in accounting as it regulated the use of provisions, minimising their abuse such as in ...