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.
Determining the functional currency of a foreign entity requires a close look at the entity's cash flow. The FASB's Accounting Standards Codification states that an entity's primary economic environment is the one where the entity generates and spends cash.he first category includes those entities the operations of which are self-contained in a foreign economic environment and distinct from the parent entity. The functional currency for these foreign entities is the foreign currency.