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.
This process creates a revaluation batch containing separate journal entries for each revalued foreign currency. Â§The revaluation adjustment is created in your functional currency, this is where the fluctuation is. The foreign currency of the transaction will stay the same, it is the functional currency balance that is adjusted.