We even called ourselves Los Dos Traviesos, Spanish for the comic strip characters, The Katzenjammer Kids. In 1897, The Katzenjammer Kids,'' the pioneering comic strip created by Rudolph Dirks, made its debut in the New York Journal.
International Accounting Standard 21 (IAS 21) defines functional currency as âthe currency of the primary economic environment in which the entity operatesâ. The same Standard defines presentation currency as âthe currency in which the financial statements are presentedâ. The functional currency is determined by looking at a number of relevant factors. This currency should be the currency in which an entity usually generates and spends cash.
The symbol of Euro is Ã¢âÂ¬ and the abbreviation is EUR. The symbol of Pound is Ã¢Â£ and the abbreviation is GBP. This refers to the term Great Britain Pound. Some other abbreviations used to denote the currency are UKP, GBR, UK, and STG. A Euro is made up of 100 cents while a Pound is made up of 100 pence. The symbol of a penny is âpâ and an amount like 40 pence is pronounced as fourty pee. So the basic unit of Euro is cent and that of Pound is pence. Both Euro and Pound have a conversion factor of six significant digits.