Quarterly report pursuant to Section 13 or 15(d)

FOREIGN CURRENCY TRANSLATION

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FOREIGN CURRENCY TRANSLATION
3 Months Ended
Jan. 31, 2022
Foreign Currency [Abstract]  
FOREIGN CURRENCY TRANSLATION

NOTE 4 – FOREIGN CURRENCY TRANSLATION

 

Assets and liabilities are translated at the prevailing exchange rates at the balance sheet dates. Related revenues and expenses are translated at weighted average exchange rates in effect during the reporting period. Stockholders’ equity, fixed assets and long-term investments are recorded at historical exchange rates. Resulting translation adjustments are recorded as a separate component in stockholders’ equity as part of accumulated other comprehensive income or (loss) as may be appropriate. Foreign currency transaction gains and losses are included in the consolidated statements of income and comprehensive income.

 

 

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

January 31, 2022 and October 31, 2021