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Significant Accounting Policies (Policies)
3 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Basis Of Presentation and Consolidation [Policy Text Block]
Basis of Presentation and Consolidation
 
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form
10
-Q and, therefore, do
not
include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of the Company at
June 30, 2019,
the Statements of Comprehensive Income for the
three
months ended
June 30, 2019
and
2018,
and Cash Flows for the
three
months ended
June 30, 2019
and
2018.
The results of operations for the
three
months ended
June 30, 2019
are
not
necessarily indicative of the operating results expected for the fiscal year ending
March 31, 2020.
These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s annual report on Form
10
-K for the fiscal year ended
March 31, 2019.
The Condensed Consolidated Financial Statements include the accounts of PetMed Express, Inc. and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
 
The preparation of Condensed Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value of Financial Instruments, Policy [Policy Text Block]
Fair Value of Financial Instruments
 
The carrying amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to the short-term nature of these instruments.
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
 
In
February 2016,
the Financial Accounting Standards Board (“FASB”) issued guidance on leases which supersedes the current lease guidance. The core principle requires lessees to recognize the assets and liabilities that arise from nearly all leases in the statement of financial position. Accounting applied by lessors will remain largely consistent with previous guidance. Additional changes are set to align lessor accounting with the revised lessee model and the FASB’s revenue recognition guidance. The amendments are effective for fiscal years beginning after
December 15, 2018,
including interim periods within those fiscal years. Early adoption is permitted. The Company adopted this standard on
April 1, 2019,
using this effective date as the date of initial application.
 
Consequently, on adoption, the Company recognized an additional current operating liability of approximately
$275,000
,
with a corresponding right of use asset of approximately the same amount based on the present value of the remaining rental payments under current leasing standards for existing operating leases. The lease liability and right of use asset is reflected in the condensed consolidated balance sheet as part of accrued expenses and other current liabilities and as part of prepaid expenses and other current assets. The amended guidance did
not
have a material impact on the Company’s condensed consolidated financial statements.
 
The Company does
not
believe that any other recently issued, but
not
yet effective, accounting standards, if currently adopted, will have a material effect on the Company’s consolidated financial position, results of operations, or cash flows.