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1. Basis of Presentation and Summary of Significant Accounting Policies: Foreign Currency Translation (Policies)
 3 Months Ended
Dec. 31, 2016
Policies  
Foreign Currency Translation

Foreign Currency Translation

 

The financial position and results of operations of the Company's foreign subsidiaries are measured using the foreign subsidiary's local currency as the functional currency. Revenues and expenses of such subsidiaries have been translated into U.S. dollars at average exchange rates prevailing during the period. Assets and liabilities have been translated at the rates of exchange on the balance sheet date. The resulting translation gain and loss adjustments are recorded directly as a separate component of shareholders' equity, unless there is a sale or complete liquidation of the underlying foreign investments. Foreign currency translation adjustments resulted in loss of $37,615 and $0 for three months ended December 31, 2016 and 2015, respectively.

 

Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Foreign currency transaction gains included in operations totaled $1,076 for three months ended December 31, 2016 and losses totaled $2,849 for three months ended December 31, 2015.