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Note 11 - Investment Under Equity Method | 12 Months Ended
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Jun. 30, 2012
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 11 – INVESTMENT UNDER EQUITY METHOD On April 10, 2009, the Company entered into an agreement to form a joint venture with the Atheeb Trading Company, a member of the Atheeb Group (“Atheeb”). The joint venture entity Atheeb NetSol Saudi Company Ltd. is a company organized under the laws of the Kingdom of Saudi Arabia. The venture was formed with an initial capital contribution of $268,000 by the Company and $266,930 by Atheeb with a profit sharing ratio of 50.1:49.9, respectively. The final formation of the company was completed on March 7, 2010. The Company's investment in equity for the year ended June 30, 2012 and 2011 is as follows:
Net book value at June 30, 2010 |  | $ | 200,506 |
Net loss for the year ended June 30, 2011 |  |  | (542,929 | )
NetSol's share (50.1%) |  |  | (272,007 | )
Loss adjusted against investment |  |  | (200,506 | )
Net book value at June 30, 2011 |  | $ | - |
Investment during the period |  |  | 100,000 |
Net loss for the year ended June 30, 2012 |  |  | (503,303 | )
NetSol's share (50.1%) |  |  | (252,155 | )
Unabsorbed losses brought forward |  |  | (51,731 | )
Total loss |  |  | (303,886 | )
Loss adjusted against investment |  |  | (100,000 | )
Loss adjusted against advance to investee |  |  | (200,000 | )
Net book value at June 30, 2012 |  | $ | - |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32787-111569 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32847-111569 + Details
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