Theravāda: ‘Doctrine of the Elders’, is a name of the oldest form of the Buddha’s teachings, handed down to us in the Pāli language. According to tradition, its name is derived from the fact of having been fixed by 500 Noble Elders of the Order, soon after the death of the Master.
Theravāda is the only one of the old schools of Buddhism that has survived among those which Mahāyānists have called ‘Hinayāna’. It is sometimes called Southern Buddhism or Pāli Buddhism. It is found today in Sri Lanka, Burma, Thailand, Cambodia, Laos and Chittagong East Bengal. - Cf. Guide, p. 60. - App..