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Note 1 - General
 3 Months Ended
Jan. 31, 2019
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
(
1
)   General
 
The accompanying unaudited condensed consolidated financial statements of Optical Cable Corporation and its subsidiaries (collectively, the “Company” or “OCC
®
”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the instructions to Form
10
-Q and Regulation S-
X.
Accordingly, they do
not
include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all material adjustments considered necessary for a fair presentation have been included. Operating results for the
three
months ended
January 31, 2019
are
not
necessarily indicative of the results for the fiscal year ending
October 
31,
2019
because the following items, among other things,
may
impact those results: changes in market conditions, seasonality, changes in technology, competitive conditions, timing of certain projects and purchases by key customers, significant variations in sales resulting from high volatility and timing of large sales orders among a limited number of customers in certain markets, ability of management to execute its business plans; as well as other variables, uncertainties, contingencies and risks set forth as risks in the Company’s Annual Report on Form
10
-K for the fiscal year ended
October 
31,
2018
(including those set forth in the “Forward-Looking Information” section), or as otherwise set forth in other filings by the Company as variables, contingencies and/or risks possibly affecting future results. The unaudited condensed consolidated financial statements and condensed notes are presented as permitted by Form
10
-Q and do
not
contain certain information included in the Company’s annual consolidated financial statements and notes. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form
10
-K for the fiscal year ended
October 
31,
2018.
 
In
May 2014,
the FASB issued Accounting Standards Update
2014
-
09,
Revenue from Contracts with Customers
(“ASU
2014
-
09”
). ASU
2014
-
09,
and collectively with its subsequent amendments (“Topic
606”
), is a comprehensive new revenue recognition model that expands disclosure requirements and requires an entity to recognize revenue when promised goods or services are transferred to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The Company adopted Topic
606
effective
November 1, 2018
using the modified retrospective transition method applied to contracts that were
not
completed as of
November 1, 2018.
Results for reporting periods beginning after
November 1, 2018
are presented under Topic
606,
while prior period amounts are
not
adjusted and continue to be reported in accordance with the accounting standards in effect for those periods. The results of adopting Topic
606
did
not
have a material impact on the Company's results of operations, financial position or liquidity. Upon adoption, the Company recorded a cumulative adjustment to the opening balance of retained earnings which resulted in an increase of
$61,763
due to the recognition of an asset for the right to recover the costs of products estimated to be returned as of
November 1, 2018.
See also note
10
for additional information and expanded disclosures under the new standard.
 
In
August 2016,
the FASB issued Accounting Standards Update
2016
-
15,
Statement of Cash Flows (Topic
230
): Classification of Certain Cash Receipts and Cash Payments
(“ASU
2016
-
15”
).  ASU
2016
-
15
provides guidance related to the classification of certain cash receipts and cash payments on the statement of cash flows. The pronouncement provides clarification guidance on
eight
specific cash flow presentation issues that have developed due to diversity in practice. ASU
2016
-
15
is effective for fiscal years beginning after
December 15, 2017,
including interim periods within those fiscal years. The Company adopted ASU
2016
-
15
effective
November 1, 2018. 
The adoption did
not
have a material impact on the Company's results of operations, financial position or liquidity or its related financial statement disclosures. 
 
 
In
October 2016,
the FASB issued Accounting Standards Update
2016
-
16,
Income Taxes (Topic
740
): Intra-Entity Transfers of Assets Other Than Inventory
(“ASU
2016
-
16”
). ASU
2016
-
16
requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (with the exception of inventory) when the transfer occurs.  Under current GAAP, entities are prohibited from recognizing current and deferred income taxes for an intra-entity transfer until the asset is sold to a
third
party.  Examples of assets that would be affected by the new guidance are intellectual property and property, plant and equipment.  ASU
2016
-
16
is effective for fiscal years beginning after
December 15, 2017,
including interim periods within those fiscal years. The Company adopted ASU
2016
-
16
effective
November 1, 2018.
The adoption did
not
have any impact on the Company's results of operations, financial position or liquidity or its related financial statement disclosures.