New Accounting Standards

3 Months Ended

Dec. 31, 2016

Accounting Changes and Error Corrections [Abstract]

New Accounting Standards

(10) New Accounting Standards

In January 2017, the FASB issued an Accounting Standards Update No. 2017 01 to “Business Combinations (Topic 805): Clarifying the Definition of a Business.” Based on feedback that the definition of business is being applied too broadly, the update adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The effective date for the new standard is for annual periods beginning after December 15, 2017 (the Company’s first quarter of fiscal year 2019). The adoption of this standard is not expected to have a material impact on the Company’s financial condition, results of operations or cash flows.