XML 83 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Foreign Operations
 12 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Foreign Operations
14. Foreign Operations

Assets and liabilities denominated in non-U.S. currencies are translated at rates of exchange prevailing on the balance sheet date, and revenues and expenses are translated at average rates of exchange for the period. Gains or losses on the translation of the financial statements of a non-U.S. operation, where the functional currency is other than the U.S. dollar, are reflected as a separate component of equity which was an $88,258 and $50,593 gain at June 30, 2012 and 2011, respectively.   The Company as of June 30, 2012 had approximately $4,304,000 in assets and $3,362,000 in net assets located in China. The Company as of June 30, 2011 had approximately $4,079,000 in assets and $3,264,000 in net assets located in China.