Fair Value Measurements

6 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

(9) Fair Value Measurements

The Company applies the FASB standard “Fair Value Measurements” for all financial assets and liabilities, which establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. The standard defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” It also establishes a fair value hierarchy consisting of the following three “levels” that prioritize the inputs to the valuation techniques used to measure fair value:

• Level 1 – quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date.

• Level 2 – from other than quoted market prices that are observable for the asset or liability, either directly or indirectly (namely, similar assets or from markets that are not active).

• Level 3 – unobservable and shall be used to measure fair value to the extent that observable inputs are not available (namely, reflecting an entity’s own assumptions).

Based on the definitions, the following table represents the Company’s assets categorized in the Level 1 to 3 hierarchies as of March 31, 2015:

	Fair Value Measurements at Reporting Date (amounts in thousands)
	Level 1		Level 2		Level 3		Total
Money market fund deposits	$	8,941	$	—	$	—	$	8,941
Mutual fund investments		7		—		—		7
Total	$	8,948	$	—	$	—	$	8,948
Amounts included in:
Cash and cash equivalents	$	8,941	$	—	$	—	$	8,941
Investments in marketable securities		7		—		—		7
Total	$	8,948	$	—	$	—	$	8,948