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Note 1: Organization and Summary of Significant Accounting Policies: Foreign Currency (Policies)
12 Months Ended
Dec. 31, 2022
Policies  
Foreign Currency

Foreign Currency

 

The functional currency of our foreign subsidiary is their respective local currency. The financial statements of the foreign subsidiary are translated into U.S. dollars for consolidation as follows: assets and liabilities at the exchange rate as of the balance sheet date, stockholders’ equity at the historical rates of exchange and income and expense amounts at average rates prevailing throughout the period. Translation adjustments resulting from the translation of the subsidiary’ accounts are included in “Accumulated other comprehensive income (loss),” a separate component of stockholders’ equity. The applicable exchange rate on December 31, 2022, closed at $1 = 1.3401 SGD and December 31, 2021 closed at $1 = 1.3484 SGD.