Browsing by Author "Rathnasiri, U.A.H.A."

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Analysis of Human Resource Outsourcing Services in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Rezana, N.F.; Rathnasiri, U.A.H.A.
Human Resource Outsourcing is a process in which the human resource activities of an organization are outsourced so as to concentrate on the organization`s core competencies. Also HR functions are complex and time consuming that it will create difficulty in managing other important areas. By HR outsourcing, this problem can be reduced which will improve effectiveness by focusing on what the organization is best at. It will also improve the flexibility of the organization to the fast changing business needs. The purpose of this study is to examine current and prospective HR outsourcing trends in Sri Lanka considering the factors underlined by an organization, in taking the decision of using HR outsourcing services from a third-party company. Data were collected from HR staff through a questionnaire-based survey using convenient sampling with random selection. Descriptive statistics were used to analyze the data. Findings revealed that there is an increasing demand in outsourcing Payroll function in present context. Further, there is a prospective trend in outsourcing Human Resource Information Systems (HRIS) and foreign workers management and expatriate management. Confidentiality and customer service are the most influential factors on HR outsourcing decision. Firm size and sector had negligible on the degree of HRO. More than half of the firms surveyed intended to do more outsourcing in the near future.
Aptitude of internal control systems to prevent and detect financial statement frauds in Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Bandara, R.M.S.; Sujeewa, G.M.M.; Rathnasiri, U.A.H.A.
The emerging discipline of Forensic Accounting is a relatively new profession in Sri Lanka even though it was developed with many ideas and techniques centuries ago. The profession has been molded and shaped by many aspects of the shifting the world including the economy, society, and legislation and it has become one of key arenas for government, practitioners, investors, general public and regulatory bodies. Corporate failures all over the world time to time has enlighten the necessity of forensic accounting profession giving more attention to financial statement frauds. The small and medium organizations tend to suffer excessively large losses due to financial statement frauds and it will increase the importance of forensic accounting practices in Sri Lanka because more organizations are in small and medium scale in nature. Process affected by organization’s structure, work and authority flows, people and management information systems designed to help the organization accomplice specific goals or objectives as the internal control systems of an entity playing a vital role in detecting and preventing financial statement frauds. The current exploratory study examines the capability of internal control systems in preventing and detecting the financial statement frauds. Structured interviews, questionnaires and empirical research findings on the practice of forensic accounting were used to analyze capability of internal control systems for preventing and detecting the financial statement frauds in Sri Lankan companies. Purposive sampling method was used to select the sample and 25 senior managers and 10 auditors were participated as respondents for the research representing 24 private and companies. The study identified control environment and monitoring as the independent variables and number of frauds and its value as the dependent variables. The study identifies that the management integrity and the soundness of internal control systems can help to reduce the probability of occurring financial statement frauds. Further it is revealed that 68% of business entities’ internal control systems have not been facilitated for detection of frauds. Moreover the study recommends that effective and efficient internal control policies and procedures put in place should be monitored to prevent and detect financial statement frauds in Sri Lankan companies.
Change Driven to Success Case Study on Screenline Holdings (Pvt) Ltd, Sri Lanka
(Staff Development Unit, Faculty of Commerce & Management Studies, University of Kelaniya, 2015) Rathnasiri, U.A.H.A.; Rajapakse, R.M.D.A.P.; Perera, H.A.P.L.; Aruppala, W.D.N.; Kaushalya, M.D.P.; Thilakarathna, W.D.N.; de Silva, N.M.T.; Kumara, N.
Our desire in writing Change Driven to success was to provide faculty with a developed teaching package that allows them to enhance students’ learning and application of knowledge in business management. Appropriate use of theory and the acquisition of factual content and analytical skills are also important goals, but the main objective is to improve the ability of handling different types of managerial problems and opportunities intelligently. This case study book depicts a wide range of business management applications specially focusing on Entrepreneurship Development, Strategic Management, Management and Financial Management etc. Sufficient information is given in each module to support students in analyzing and decision making. The Change Driven to success reflects on the identified structural change in Screenline Holdings (Pvt) Ltd. which is one of the Sri Lanka’s largest screen printers and embellishers. This book comprises with five modules and each module ends with a contribution to practice to assist students in combining theoretical aspects with emerging workplace realities. This case study book submitted in partial fulfilment of the requirement for Staff Development Programme, Faculty of Commerce and Management Studies, University of Kelaniya conducted for Probationary and Assistant Lecturers.
Compliance with Section 23 of SLFRS for the SMEs 2011; Empirical Review on Small and Medium Sized Entity Enterprise (SMEs) Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Bandara, G.M.S.; Rathnasiri, U.A.H.A.
The sector of Small and Medium Enterprises (SMEs) is said to be the backbone of all developed and developing nations. In spite of the level of development, SMEs play a pivotal role to generate economic wellbeing of a country. The Institute of Chartered Accountants of Sri Lanka (ICASL) adapted to this IFRS for SMEs to give the benefit of adopting with International accounting standards for SMEs in Sri Lanka. This Study examines the compliance with section 23 of SLFRSs for SMEs 2011 in Sri Lanka. The sample comprised of 15 SMEs which are operating in Gampaha and Colombo districts in the western province. A self-constructed compliance checklist and the compliance index were derived to denote the level of compliance among SMEs for the period of year2013 to 2015. The results revealed that slight increase of the compliance requirements under section 23 denoting 59%, 60% and 64% in 2013, 2014 and 2015 respectively. A significant noncompliance level was found with the general disclosures about revenue (Paragraph 23.30). Further, results of the study found that selected sample of entities have not engaged in transactions such as customer loyalty award relating transactions, exchange of goods during the past three years. The study examined there are misunderstanding relating to certain criteria of the section by preparers of financial statements. He study recommends policy makers to establish a proper monitoring mechanism to monitor the accounting practices and keep high level of compliance with the applicable accounting standards. Further it recommends standard setters to increase post investigations on compliance with accounting standards for SMEs.
Detection of Occupational Fraud on Leasing Companies
(Department of Accountancy, University of Kelaniya, 2016) Peiris, M.M.; Rathnasiri, U.A.H.A.
MM PLC is one of a leading finance company in Sri Lanka. The principle business activities of the company are leasing, hire purchase financing, vehicle hire, deposit mobilization and vehicle trading. It was found a fraud committed by one of the marketing officer during the branch internal audit.
Determinants of Exchange Rate Movements
(Research Symposium 2010 - Faculty of Graduate Studies, University of Kelaniya, 2010) Ranjani, R.P.C.; Fernando, J.M.R.; Rathnasiri, U.A.H.A.
The economy is comprised of many activities that fulfill human needs. The fluctuations of economy depend on variety of economic tools in any country. The exchange rate is one of the most important macro economic tool, since it links the domestic economy and the rest of the economies together. In the recent past, countries have shown a tendency to choose either hard peg or freely float system in determining their exchange rate. Since January 2001 Sri Lanka was abandoned the existing floated system which were governed by the Central Bank to a free float system by allowing greater freedom in determining the exchange rate through market forces. Therefore identification of the macro economic factors is significant in determination of exchange rate. In this study we have taken the Nominal Effective Exchange Rate (NEER) as the dependent variable and interest rate, inflation rate and GDP growth rate as the macro economic variables. Three months Treasury bills rate is represent the interest rate and Weighted Price Index (WPI) is for the calculation of the inflation. This study will be basically using secondary data sources such as Central Bank annual reports, and Central Bank Website. The time period for this study considered from year 2005 to 200based on quarterly balances. For analysis of data regression and correlation coefficient were used. The result shows that the correlations between the dependent variables and the independent variables have strong relationship and the regression results shows that the selected macroeconomic variables are significant in determining the exchange rate. Overall results conclude that the exchange rate is insightful to the macro economic variables.
How can we accounting for government grant if it vested by the way of estate land?
(Department of Accountancy, University of Kelaniya, 2014) Sandaruwan, J.C.; Rathnasiri, U.A.H.A.
Impact of Macroeconomic Variables on Sectorial Share Price Indices in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Senarathna, K.A.H.K.; Rathnasiri, U.A.H.A.
In the present turbulent environmental setting in Sri Lanka, it is paramount important to investigate the fluctuations in share prices with the changes in different macro-economic variables. The objective of this research is to investigate the relationship between macroeconomic variables on sectorial share price indices in Sri Lanka. Sectorial price indices from six business sectors were selected as dependent variable. Exchange rate, Treasury bill rate (Interest rate), Consumer Price Index (Inflation rate) and money supply were selected as independent variables. Multiply regression analysis was carried out to investigate the relationship between macroeconomic variables and sectorial share price indices by using monthly data from 2006 to 2015. Analysis revealed that macro-economic variables had significant influence for variation of sectorial share price indices in Sri Lanka. Moreover the study showed that money supply is most influential factor to determine the sectorial share price indices for all selected sectors. Exchange rate and Interest rate were showed significant negative impact on share prices for all selected sectors. The study gives meaningful insight to prevailing literature and it gives practical implication for investors, stock market regulators and policy makers and makes foundation for future research to study the macroeconomic variables on different sectors separately.
Impact of Service Quality on Customer Satisfaction: A Study of State Banks & Private Banks in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Siriwardana, D.A.; Rathnasiri, U.A.H.A.
Commercial banks play a major role in the economic development of the country. Customers prefer to get the maximum satisfaction; hence providing better service quality is the key to success and gives competitive advantage. This research is solely focused on service quality to determine the customer satisfaction. The aim of this study is to identify the impact of service quality on customer satisfaction using service quality dimensions by comparing government banks and private banks in Sri Lanka. Primary data were collected through a questionnaire and the stratified simple random sampling method used. Data were collected from respondents representing two state banks and two local private banks in Colombo district on SERVQUAL scale measure. Descriptive analysis, correlation analysis and regression analysis were used to evaluate the level of service quality. The results indicated significant positive relationship between service quality and customer satisfaction in the banking sector. The research findings showed the offering of high quality service will increase the customer satisfaction level, which leads to high level of customer loyalty for successful performance of banks.
The Impact of the Government Budget Announcement on Colombo Stock Exchange
(Research Symposium 2009 - Faculty of Graduate Studies, University of Kelaniya, 2009) Ranjani, R.P.C.; Sujeewa, G.M.M.; Rathnasiri, U.A.H.A.
Stock market is important to the success of any nation’s economy and certainly to expand and diversify its economy. If a stock market is shown to be inefficient, the public tends to distrust it and the market may collapse due to eroding investments. In addition if a stock market is shown to be inefficient, it may not provide an important mechanism for valuing financial assets and it may not facilitate for the important economic service of efficiently allocating investible funds among the possible investment project within the economy. Therefore it is the responsibility of the regulatory bodies in any economy to implement proper strategies and policies to develop capital market of the country. Accordingly tax impositions and concessions for different sectors through government budget are being often used to formulate strategies in order to develop efficient capital market. The purpose of this research is to identify the impact of the announcement of Sri Lankan Government budget on the Colombo Stock Exchange (CSE). This study investigates the behavior of CSE price indices in respect of prior and post period budget announcement information. The data set includes All Share Price Index (ASPI) and Milanka Price Index (MPI) of all listed companies for the period of 2005 to 2009. The researchers have considered prior and post period of 15 trading dates based on the first speech of budget announcement date to the Parliament. The event study method has been selected for the purpose of data analysis. The results indicate that the downward trend in ASPI and Milanka price indices in respect of budget announcement period, both prior and post. But it was noted that an upward trend in ASPI and MPI for the year 2007. The results of this study support to make a conclusion that, continuous tax impositions had led to downward trend in ASPI and MPI. However, upward trend in ASPI and MPI for the year 2007 was observed due to significant portion of tax concessions and exemptions from the government budget 2006 in certain sectors such as manufacturing, investment, construction, telecommunication etc. Therefore we can conclude that continuous imposition of taxes cause for downward trend in price indices and significant tax concessions and exemptions for upward trend in price indices in CSE.
Impact on Working Capital Management on Firm Performance
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Rasadeepani, U.G.G.; Rathnasiri, U.A.H.A.
Working capital has an effect on firm profitability as well as on liquidity position. Working capital is described as the capital available to meet the dayto- day operations and, depending on the industry, it could be a relatively high percentage of the total assets of the organization. Management of working capital is an important component of corporate financial management because it directly affects the profitability of the firm. This paper investigates the relationship between the working capital and the firm’s profitability for a sample of 15 Sri Lankan manufacturing companies listed on the Colombo Stock Exchange(CSE) for the period of 4 years from 2012-2015. The secondary data analyses by applying correlation, descriptive and multiple regression analysis. The main objective of this research to identify the relationship between working capital management and firms financial performance and other secondary objectives to identify relationship between average inventory period, average receivable period, average payable period, current ratio, quick ratio and return on assets of the firms. The results shows that there is a relationship between variables of the working capital and profitability of the firm. There is a negative relationship between average inventory period and profitability of the firm and positive relationship between average receivable period, average payable period, current ratio and quick ratio against profitability of the firm. This paper highlights the importance of managing working capital components to ensure an improvement in firm’s profitability and to operate effectively and efficiently.
Measurement and Recognition of Government Loans at a Below Market Rate of Interest
(Department of Accountancy, University of Kelaniya, 2016) Nawarathna, H.A.V.S.K.; Rathnasiri, U.A.H.A.
Public and private hospitals are funded from a range of different sources, reflecting the types of patients they treat and the services they provide. ABC is a Private hospital has been established itself as the one of the best hospitals in Sri Lanka with a mission to provide wide-range of healthcare facilities to all sections of the society in Sri Lanka.
Possibility of long term loan impairment
(Department of Accountancy, University of Kelaniya, 2014) Lasanthi, D.R.; Rathnasiri, U.A.H.A.
QUALITY IN HIGHER EDUCATION: WHAT SAY THE UNDERGRADUATES?
(2010) Munasinghe, M.A.T.K.; Rathnasiri, U.A.H.A.
All over the world, as tertiary education grows rapidly and its cost continues to rise in both public and private sectors there is increasing interest in quality aspects of education. Quality is one of the many concepts in the social sciences that are extremely difficult to define. Given the difficulties in defining quality, literature suggests to take all competing views of stakeholders into account in defining the quality in higher education. Literature suggests four main stakeholders in higher education as ?Providers, Users of products, Users of outputs and the employees of the sector. All these parties are customers of the education system with diverse requirements. This study was based on questionnaires distributed among 100 undergraduates of the Faculty of Commerce and Management studies of the University of Kelaniya, Sri Lanka to provide a view of quality in higher education from the perspective of critical stakeholder group-Users of products(Undergraduates).Based on factor analysis, quality dimensions were defined and five dimensions of quality; Resource Availability, Information and Responsiveness, Competence of academic staff, Corporate Collaboration, Assessment and Monitoring were together accounted for 69.5 percent of the total variance. The dimension of Competence of academic staff reserved the highest and Assessment and Monitoring was placed as the least perceived quality dimension from undergraduates? perspective.
The Relationship between Credit Risk Management and Profitability; Evidence from Commercial Banks in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Manike, H.M.S.W.P.; Rathnasiri, U.A.H.A.
The banking sector which acts as the backbone of the financial system in Sri Lanka has contributed the country by maintaining an economic growth However, at present banks in Sri Lanka face the problem of credit risk due to deteriorating credit quality. This credit risk management connects with the liquidity as well as profitability and overall risk management of the banks. This study analyzed the impact of credit risk management on profitability of commercial banks in Sri Lanka by using CAMEL model. CAMEL model indicators used to measure credit risk management and model included capital adequacy, asset quality, management efficiency, earning efficiency and liquidity which are influencing to the credit risk management. The study based on secondary data published by commercial banks in Sri Lanka. The sample was 10 banks for 2009 to 2010. Ordinary Least Square (OLS) regression method was used for data analysis. Findings noted that there is a positive relationship between credit risk management and bank performance of commercial banks in Sri Lanka. Further, Capital adequacy, earning efficiency, Liquidity coverage ratio have significant positive relationship with the profitability of commercial banks in Sri Lanka. Asset quality and management efficiency have negative relationship with financial performance of Sri Lankan commercial banks. The study envisaged that these ratios should be improved by the banks for the better performance and CAMEL is a significant tool to analysis of credit risk management.
The Working Capital Management Practices of Small and Medium Enterprises (SMEs) in Sri Lanka
(Faculty of Graduate Studies, University of Kelaniya, 2015) Rathnasiri, U.A.H.A.
Small and Medium Enterprises (SMEs) play an important role in any economy as they are capable of generating employments, promoting the growth of Gross Domestic Product (GDP), embarking innovations and stimulating all other economic activities. This sector is said to be the backbone of all developed and developing nations. Therefore the development of SME sector is paramount important for any country irrespective of their level of development. The purpose of the study is to explore the Working Capital Management (WCM) practices adopted by Sri Lankan Small and Medium Enterprises (SMEs) and to study the usage of such practices in prevailing information systems and financial reporting practices. The sample of the study is 60 SMEs which are operating their businesses in the manufacturing sector and limited to the western province in Sri Lanka. The study focused on the main working capital components such as cash, trade receivable and inventory management of SMEs. A questionnaire was used to explore the adoption of cash, receivable and inventory management practices of SMEs. Descriptive statistics were used to analyze the data in order to examine the said purpose of the study. The findings revealed that recording of cash, inventory and accounts receivable practices of SMEs were not conducted in a formal manner and used to continue WCM practices in an adhoc basis. Findings of receivable management practices identified that selling products on credit basis is a common trend in Sri Lankan SMEs and the length of accounts receivable and the credit term policy depends on the owner‘s prior experience and perception on customers. Findings on inventory management practices and level of cash in hand demonstrated that owner/manager‘s experience found to be more important in determining the inventory levels, the amount of cash in hand and preparation of inventory and cash budgets. The above findings are consistent with the empirical results of the literature. Accordingly the ad-hoc working capital management practices of SMEs‘ leads to the excessive level of working capital resulting low level of profitability or low level of working capital exposing problems that disturb day to day operations of SMEs. In overall study validated that the adoption of working capital management practices among Sri Lankan SMEs is low as a result of lack of knowledge and the negative perception of cost benefit analysis on implementing a good WCM practices. Thus it is important to provide platform for training SME owners on how to adopt and implement WCM practices to ensure long term survival of SMEs in Sri Lanka.