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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2016
Shareholders' Equity:  
Accumulated Other Comprehensive Income

(6)     ACCUMULATED OTHER COMPREHENSIVE INCOME

 

The United States dollar is the Company’s functional currency, except for its operations in Canada where the functional currency is the Canadian dollar. 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. In accordance with ASC No. 830, Foreign Currency Matters, revenues and expenses of the Company’s foreign subsidiaries have been translated into U.S. dollars at weighted average exchange rates prevailing during the period, and the assets and liabilities of such subsidiaries have been translated at the period end exchange rate. Accumulated other comprehensive income includes the accumulated gains or losses from these foreign currency translation adjustments. As of September 30, 2016 and December 31, 2015, $262,000 and $172,000 of foreign currency translation adjustments were recorded in accumulated other comprehensive income, respectively.