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Note 5 - Other Comprehensive Income & Foreign Currency | 12 Months Ended
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Jun. 30, 2013
Other Comprehensive Income And Foreign Currency [Abstract] |
Other Comprehensive Income And Foreign Currency | NOTE 5 – OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY The accounts of NetSol UK, NTE, VLSH and VLS use the British Pound; VLSIL uses the Euro; NetSol PK, Connect, and NetSol Innovation use Pakistan Rupees; NTPK Thailand uses Thai Baht; Abraxas uses the Australian dollar; and NetSol Beijing uses Chinese Yuan as the functional currencies. NetSol Technologies, Inc., and its subsidiaries, NTNA and Vroozi, use the U.S. dollar as the functional currency. Assets and liabilities are translated at the exchange rate on the balance sheet date, whereas 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 $15,714,112 and $12,361,759 as of June 30, 2013 and 2012, respectively. During the year ended June 30, 2013 and 2012, comprehensive loss in the consolidated statements of operations included NetSol’s share of translation loss of $3,352,353 and $3,555,837, respectively.

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