|
|
 | | | |
- close
- close
- close
- close
| |||||||||
These excerpts taken from the HPOL 10-K filed Sep 15, 2008. Foreign
Currency Translation
For the Company’s subsidiaries located outside of the
United States, the local currency is the functional currency. In
accordance with SFAS No. 52, Foreign Currency
Translation, the financial statements of those subsidiaries
are translated into U.S. Dollars as follows. Consolidated
assets and liabilities are translated at the exchange rates in
effect at the balance sheet date. Consolidated income, expenses
and cash flows are translated at the average exchange rates for
each period and stockholders’ equity is translated using
historical exchange rates. The resulting translation adjustment
is recorded as a component of accumulated other comprehensive
income (loss) in the accompanying consolidated balance sheets.
Foreign Currency Translation For the Company’s subsidiaries located outside of the United States, the local currency is the functional currency. In accordance with SFAS No. 52, Foreign Currency Translation, the financial statements of those subsidiaries are translated into U.S. Dollars as follows. Consolidated assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Consolidated income, expenses and cash flows are translated at the average exchange rates for each period and stockholders’ equity is translated using historical exchange rates. The resulting translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. This excerpt taken from the HPOL 10-K filed Sep 12, 2007. Foreign
Currency Translation
For the Company’s subsidiaries located outside of the
United States, the local currency is the functional currency. In
accordance with SFAS No. 52, Foreign Currency
Translation, the financial statements of those subsidiaries
are translated into U.S. Dollars as follows. Consolidated
assets and liabilities are translated at the exchange rates in
effect at the balance sheet date. Consolidated income, expenses
and cash flows are translated at the average exchange rates for
each period and stockholders’ equity is translated using
historical exchange rates. The resulting translation adjustment
is recorded as a component of accumulated other comprehensive
income (loss) in the accompanying consolidated balance sheets.
| EXCERPTS ON THIS PAGE:
|
| |||||||
