OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY |
NOTE 5 – OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY
The following table represents the functional currencies of the Company and its subsidiaries:
NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements September 30, 2024 (Unaudited)
Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange rate throughout the period. Accumulated translation losses classified as an item of accumulated other comprehensive loss in the stockholders’ equity section of the consolidated balance sheet were $46,049,023 and $45,935,616 as of September 30, 2024 and June 30, 2024, respectively. During the three months ended September 30, 2024 and 2023, comprehensive income (loss) in the consolidated statements of comprehensive income (loss) included a translation loss attributable to NetSol of $113,407 and $436,546, respectively.
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