Note 2 - Summary of significant accounting policies: Newly Issued Not Yet Effective Accounting Standards (Policies)
|3 Months Ended|
Mar. 31, 2019
|Newly Issued Not Yet Effective Accounting Standards||
Newly Issued Not Yet Effective Accounting Standards
Credit Losses - Measurement of Credit Losses on Financial Instruments Issued in June 2016, ASU 2016-13, Financial Instruments - Credit Losses Measurement of Credit Losses on Financial Instruments, replaces the current incurred loss impairment method with a method that reflects expected credit losses. We plan to adopt the new standard on its revised effective date of our fiscal year beginning after December 15, 2021, by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balance of Retained earnings. The Company is currently evaluating the effect that ASU 2016-13 will have on our consolidated financial statements and related disclosures.
Intangibles - Goodwill and Others Issued in January 2017, ASU 2017-04, Intangibles - Goodwill and Other Simplifying the Test for Goodwill Impairment, simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting units goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019, including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.
Represents the textual narrative disclosure of Newly Issued Not Yet Effective Accounting Standards, during the indicated time period.
No definition available.