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.
Since the functional currency is US$ and the carrying value in functional currency is at the historic rate, to compare with the tax base it is converted at the current rate exchange closing. This will give rise to a temporary difference even though notional.