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.
in its functional currency. Â§ 1.985-1(a)(1). â¢ The adoption of, or election to use, a functional currency is treated as a method of accounting. Â§ 1.985-2(a). Thus, the functional currency must be used for all subsequent years unless permission to change is granted or deemed granted. â¢ Generally, permission to change functional currencies is not