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 of 'Reporting Currency'. The currency which is used for an entity's financial statements. The reporting currency in financial statements and other financial reports are easiest to understand when they are compiled using only one currency.
8 If the func-. tional currency is the local currency,the subsidiary is considered to be self-contained and. its financial statements are translated into U.S. dollars. If the functional currency is the. U.S.dollar,the subsidiary is considered to be just a branch office of the parent and the. financial statements are remeasured into U.S. dollars. Most foreign entities are self-. contained and use their local currency as the functional currency; thus, their financial.