70% of Sri Lankan Tamils in Sri Lanka live in the Northern and Eastern provinces. Although Sri Lankan Tamils are culturally and linguistically distinct, genetic studies indicate that they are closely related to Sinhalese ethnic group in the island.
Definition: Under international financial reporting standards, a functional currency is the currency used in the primary economic environment where an entity operates. This is the environment in which an entity primarily generates and expends cash.
Foreign Currency Translation and Re-measurement. Both translation and re-measurement are based on multiplying the reported foreign currency balance times a fraction which is the value of desired currency/equivalent value of the foreign currency. In either case, there are two accounting problems to address: