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.
The four steps in translating the foreign countryâs financial statements into U.S. reporting requirements are: Conform the foreign countryâs financial statements to U.S. GAAP. Determine the functional currency of the foreign entity. Re-measure the financial statements in the functional currency, if necessary.