Currency settings in Controlling

Hi all,

Could any one tell me what are the implications if:

Query A.Company code currency is INR Controlling area currency is INR (10 type)

Query B.Company code currency is INR Controlling area currency is USD (20 type)

We are having only one company code under  the controlling area.

My requirement is:

1.If i run reports at cost center/ internal orders level, the system should show transaction based translations but not on report date based translations?

Please suggest me which one is more suitable to my requirement?

Thanks

kishore