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.
1 The functional currency is the reporting entityâs in the first case, and the local currency in the later. 2  Proportion of cash flows. 3  Whether cash flows from the foreign operation directly affect the cash flows of the reporting entity, and are available for remittance. The functional currency is the reporting entityâs if so, and the local currency if not. 2  Debt service. 3  Whether a foreign operationâs cash flows can service its debt obligations without funds transfers from the reporting entity.