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Note 2 - Summary of Significant Accounting Policies: Foreign Currency Translation (Policies)
12 Months Ended
Mar. 31, 2016
Policies  
Foreign Currency Translation

Foreign currency translation

 

The accounts of the Company’s Chinese subsidiary are maintained in RMB and the accounts of the U.S. companies are maintained in USD. The accounts of the Chinese subsidiary were translated into USD in accordance with Accounting Standards Codification (“ASC”) Topic 830 “Foreign Currency Matters”. According to Topic 830, all assets and liabilities were translated at the exchange rate on the balance sheet date; stockholders’ equity is translated at historical rates and statement of income items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with ASC Topic 220, “Comprehensive Income.” Gains and losses resulting from the foreign currency transactions are reflected in the statements of income.

 

The following exchange rates were used to translate the amounts from RMB into United States dollars (“USD$”) for the respective periods:

 

 

 

March 31, 2016

 

 

March 31, 2015

 

 

 

 

 

 

 

 

Year End Exchange Rate (RMB/USD)

 

 

6.4612

 

 

 

6.1422

 

Average Period Exchange Rate (RMB/USD)

 

 

6.3214

 

 

 

6.1476