Page 75 - CA Sri Lanka Integrated Annual Report 2023

FINANCIAL REVIEW

INCOME
Income (Rs. Mn)
CA Sri Lanka recorded a higher revenue
in 2023 compared to previous years, 1,200
experiencing an overall increase of 12% 1,000
compared to 2022. This growth can be
attributed to income generated from 800
Learning and Development Activities and 600
Continuous Professional Development, 400
including Member Related Activities. 200
Additionally, the marginal increase in fees 918 603 853 913 1,018
also contributed to this rise. 0
2019 2020 2021 2022 2023
EXPENSES
Sri Lanka’s macroeconomic conditions, Gross income by activity (Rs. Mn)
combined with increasing prices in
essential services, had a negative impact 800 747 2023
on operating expenses during the year. 700 675 2022
Consequently, student-related expenses 600
saw a significant increase, recording a 500
28% hike. Expenses related to members 400
and professional development were 300 215 187
26% higher than in 2022. Expenditure 200
100
related to maintenance doubled in 2023 0 49 43 0.1 0.2 7 7
due to compulsory building maintenance Learning and Continuous Financial Library-related Net
activities at the CA Sri Lanka premises, professional professional reporting and activities sponsorship
which had been pending for several years, development development and assurance income
standards
member related
and following government-mandated activities related activities
upward revisions to utility rates.

Composition of operating expenses NET OPERATIONAL LOSS
CA Sri Lanka incurred a net operational loss of Rs. 29 million in the year 2023 due to
7% significant increases in operational costs compared to the income generated from
7% 30%
members and student-related activities. Thae Institute increased fees charged from
8% 7% members and students by only a nominal amount in 2023, despite the massive increases
10% 28%
5% in purchasing costs of goods and services.
2022 2023
34% 13%
4%
31%
14%
4%
Student Learning & professional development
Member/Profession development
Technical Support Services
Employee costs
Maintenance of premises
Depreciation and amortisation
Other expenses

CA Sri Lanka Integrated Annual Report 2023 73