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EXCEL - IDEA: XBRL DOCUMENT - XIANGTIAN (USA) AIR POWER CO., LTD.Financial_Report.xls
10-Q - QUARTERLY REPORT - XIANGTIAN (USA) AIR POWER CO., LTD.goas_10q.htm
XML - IDEA: XBRL DOCUMENT - XIANGTIAN (USA) AIR POWER CO., LTD.R4.htm
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EX-32.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex32.htm
EX-31.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex31.htm
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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation (Policies)
3 Months Ended
Oct. 31, 2012
Policies  
Foreign Currency Translation

Foreign Currency Translation

 

The Company’s functional currency is United States (“U.S.”) dollars as substantially all of the Company’s operations use this denomination. The consolidated financial statements are presented in U.S. dollars. Foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at the exchange rates prevailing at the transaction date. Revenues and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.