Untitled - Colombo Stock Exchange

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7. Cash Flow and Cash and Cash Equivalents
The cash flow has been prepared by using the ‘Direct Method’. Cash and cash equivalents comprise cash, amounts
due from other banks and other short-term highly liquid investments with less than 90 days’ maturity from date of
acquisition.
8. Comparative Figures
Where necessary, amounts shown for the previous year have been reclassified to facilitate comparison.
9. Events After the Balance Sheet Date
Where necessary, all the material events after the Balance Sheet date have been considered and appropriate
adjustments/disclosures have been made in the Financial Statements.
10. Directors’ Responsibility Statement
The Board of Directors takes the responsibility for the preparation and presentation of these Financial Statements.
11. New Accounting Standards Issued but Not Effective as at the Balance Sheet Date
Sri Lanka Accounting Standard No. 44 on Financial Instruments: Presentation and Sri Lanka Accounting Standard
No. 45 on ‘Financial Instruments’: Recognition and Measurement which are applicable to the Financial Statements
covering annual periods beginning on or after 01 January 2011, and not yet effective for the period ended December
2009, have not been applied in preparing these consolidated Financial Statements. These two standards together
provide comprehensive guidance on identification, classification, measurements (including Derivatives) into financial
assets, financial liabilities and equity instruments. In order to comply with the requirements of these standards, Bank
of Ceylon is in the process of assessing the effect of adoption of the aforesaid two standards. Due to the complex
nature of the effects of these standards, the impact of adoption cannot be estimated as at the date of publication of
these Financial statements.
There have been no significant changes in the nature of principal activities of Subsidiaries during the year under
review other than for engaging in insurance business through acquisition of and insurance company to the Group
during the year.
B O C DEBENTURE PROSPECTUS