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OTHER INCOME (EXPENSE) - NET
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Other Income and Expenses [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||
| Other Nonoperating Income and Expense [Text Block] |
Other (expense) income net for the years ended December 31, 2014 and 2013 consisted of the following:
Foreign currency transaction gains (losses) result from transactions related to the intercompany receivable for which transaction adjustments are recorded in the consolidated statements of operations as they are not deemed to be permanently reinvested. A decline in the exchange rate by approximately 5% from December 31, 2013 to December 31, 2014 caused a foreign exchange loss of $122,163 for the year ended December 31, 2014. An increase in the exchange rate of Pakistan rupees per U.S. dollar by 9% from December 31, 2012 to December 31, 2013, caused a foreign exchange gain of $199,919. |
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- Details
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- Definition
The entire disclosure for the components of non-operating income or non-operating expense, including, but not limited to, amounts earned from dividends, interest on securities, gain (loss) on securities sold, equity earnings of unconsolidated affiliates, gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
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