Business Times

School accounts better than private sector ones

By Quintus Perera

Taxila Central College, Horana became the All Island Gold winner at the Best Annual Reports and Accounts competition of National Schools 2010 held in Colombo last week while Silver was won by Pushpadana Girls’ College, Kandy followed by Visakha Vidyalaya, Colombo by winning the Bronze.
The event was organized by The Association of Accounting Technicians of Sri Lanka (AAT) in collaboration with the Ministry of Education.

H.K.A. Abeyapala, Principal, Taxila Central speaking after receiving the coveted award said that what is important for them is not winning the best award but participating in the competition, the experience they have gained in accounting and the preparation of the annual report in accordance with the accepted accounting principles. He said that there could be mistakes and shortcomings in preparing these documents and they could be corrected and correct process could be adopted when they participate in the competition continuously. He said that they have participated on two earlier occasions and also won awards.

Education Minister Bandula Gunawardene, speaking as Chief Guest, said the Ministry has signed an MoU with the Korean Government to supply 3,000 pianos and 30,000 school writing boards (green boards) and these were supplied.

He elaborated in a 45 minute speech as how schools should be improved and said that what AAT has ventured is a very important exercise and the Ministry would take action to ensure all the schools come under this programme by 2012. While calling for private sector participation in the development of schools, he said that they would take action to prevent individual sponsorships of school activities by the private sector companies. T. Dharmarajah, President, AATSL, said the competition is for the School Development Society Accounts and Annual Reports and the exercise was commenced three years ago and the accounts are that of audited ones.

He said that some of the competing schools who have submitted their accounts and annual reports are better than the accounts and annual reports of some of the best mercantile sector companies. He said that the income of some of these school development societies are more than that of some of the public quoted companies.

He said that they have undertaken to handle this programme as part of their social responsibility and is conducted free of charge.

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