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OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY | 6 Months Ended
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Dec. 31, 2023
Other Comprehensive Income And Foreign Currency |
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:
The Company and Subsidiaries |  | Functional Currency
NetSol Technologies, Inc. |  | USD
NTA |  | USD
Otoz |  | USD
NTE |  | British Pound
AEL |  | British Pound
VLSH |  | British Pound
VLS |  | British Pound
VLSIL |  | Euro
NetSol PK |  | Pakistan Rupee
Connect |  | Pakistan Rupee
NetSol Innovation |  | Pakistan Rupee
NetSol Thai |  | Thai Bhat
Otoz Thai |  | Thai Bhat
Australia |  | Australian Dollar
Namecet |  | AED
NetSol Beijing |  | Chinese Yuan
Tianjin |  | Chinese Yuan
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 $45,870,309 and $45,975,156 as of December 31, 2023 and June 30, 2023, respectively. During the three and six months ended December 31, 2023, comprehensive income (loss) in the consolidated statements of comprehensive income (loss) included a translation gain attributable to NetSol of $541,393 and $104,847, respectively. During the three and six months ended December 31, 2022, comprehensive income (loss) in the consolidated statements of comprehensive income (loss) included a $269,795 translation gain attributable to NetSol and a $(2,648,255) translation loss attributable to NetSol, respectively.

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