ACCOUNTING PRONOUNCEMENT

9 Months Ended

Sep. 30, 2011

NOTE 14 ACCOUNTING PRONOUNCEMENT

In September 2011, the Financial Accounting Standards Board issued new guidance on Accounting Standards Codification 350 – Intangibles – Goodwill and Other which simplifies how entities test goodwill for impairment. An entity is permitted to first assess qualitative factors affecting the fair value of a reporting unit in comparison to the carrying amount, as a basis for determining whether it is necessary to proceed to the two-step goodwill impairment test. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted. The Partnership is in the process of assessing the impact of the new guidance on the financial statements.

In June 2011, the Financial Accounting Standards Board issued new guidance on Accounting Standards Codification 220 – Comprehensive Income which requires reclassification adjustments on the face of the financial statements from other comprehensive income to net income. This guidance is effective for interim and annual periods beginning after December 15, 2011. The amendments should be applied retrospectively and early adoption is permitted. The Partnership is in the process of assessing the impact of the new guidance to the financial statements.