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.
a.Under both US GAAP and IFRS, assets, liabilities, and operations of an entity should be measured using the functional currency of that entity. b.Both US GAAP and IFRS allow financial statements to be presented in a currency other than the functional currency, which is also known as the reporting currency.