Note 2 - Summary of Significant Accounting Policies: Foreign Currency (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Foreign Currency

Foreign Currency

The Company reports its financial position and results of operations in U.S. dollars.  For its subsidiaries that have functional currencies that are foreign currencies, the elements of the financial statements are translated by using a current exchange rate.  For assets and liabilities, the exchange rate at the balance sheet date is used. Revenues, expenses, gains, and losses were translated at the average exchange rate for the periods presented.  Transaction adjustments result from the process of translating the subsidiary’ financial statements into U.S. dollars are not included in determining net income, but are reported in other comprehensive income (loss).  

Foreign currency transactions are transactions denominated in a currency other than the entity's functional currency.  At the date the transaction is recognized, each asset, liability, revenue, expense, gain, or loss arising from the transaction is measured and recorded in the functional currency of the recording entity by use of the exchange rate in effect at that date. At each balance sheet date, recorded balances that are denominated in a currency other than the functional currency of the recording entity are adjusted to reflect the current exchange rate, with any resulting differences reported in the current period statement of operations.