Average March sea temperatures Monthly Alicante water temperature chart The bar chart below shows the average monthly sea temperatures at Alicante over the year.
An entity's functional currency is the currency of the primary economic environment in which that entity operates. The functional currency can be the dollar or a foreign currency depending on the facts. Normally, it will be the currency of the economic environment in which cash is generated and expended by the entity.An entity can be any form of operation, including a subsidiary, division, branch, or joint venture.he functional currency can be the dollar or a foreign currency depending on the facts. Normally, it will be the currency of the economic environment in which cash is generated and expended by the entity.
a.Under both US GAAP and IFRS, assets, liabilities, and operations of an entity should be measured using the functional currency of that entity. b.Both US GAAP and IFRS allow financial statements to be presented in a currency other than the functional currency, which is also known as the reporting currency.