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.
Its functional currency is therefore not the U.S. dollar, which means that when the subsidiary's financial statements are consolidated into the financial statements of the U.S. corporate parent, they need to be converted into U.S. dollars at the current exchange rate between those two currencies.enefits. For those who read the financial statements of U.S. companies doing business abroad, the impact of the conversion of offshore business operations into the U. S. dollar at home is made clear by functional currency analysis and determination.