What's the external SRAM for and where is the code?

Hi all,

Why does the Bemicro need an external SRAM? and where is the software code stored? Can they both be in the cyclone III?

This Bemicro is great but the tutorial project is rather complex ... for my taste. BTW I run the tutorial without problems I'm just a bit overwhelmed with all the settings and ... stuff. I keep trying to compare this to a normal MCU line a Microchip PIC18 in my head and questions just pop out left and right :-).

Thanks