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Note 4 - Goodwill and Other Intangible Assets
3 Months Ended
Feb. 28, 2018
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
 
4
. Goodwill and Other Intangible Assets
 
Accounting Standard Codification (“ASC”)
350
“Goodwill and Other Intangible Assets” requires that assets with indefinite lives
no
longer be amortized, but instead be subject to annual impairment tests. The Company follows this guidance.
 
The Company tests goodwill that is
not
subject to amortization for impairment annually or more frequently if events or circumstances indicate that impairment is possible. The Company has elected to conduct its annual test during the
first
quarter. During the quarter ended
February 28, 2018,
management qualitatively assessed goodwill to determine whether testing was necessary. Factors that management considers in this assessment include macroeconomic conditions, industry and market considerations, overall financial performance (both current and projected), changes in management and strategy, and changes in the composition and carrying amounts of net assets. If this qualitative assessment indicates that it is more likely than
not
that the fair value of a reporting unit is less than its carrying value, a quantitative assessment is then performed. Based on a qualitative evaluation, management determined that the carrying value of goodwill was
not
impaired at
February 28, 2018,
and a quantitative assessment was
not
considered necessary.