Changes in Accounting Estimates

12 Months Ended

Apr. 30, 2017

Changes in Accounting Estimates

Changes in Accounting Estimates

16.          Changes in Accounting Estimates

During the years ended April 30, 2017, 2016 and 2015, the Company revised its estimates at completion of various fixed-price contracts which resulted in cumulative catch up adjustments during the year in which the change in estimate occurred. The change in estimate was a result of the Company changing the total costs required to complete the contracts due to having more accurate cost information as work progressed in subsequent periods on the various contracts. The changes in estimates resulted in cumulative catch-up adjustments to income from continuing operations for the years ended April 30, 2017, 2016 and 2015 that were not material.

Refer also to Note 9 – Warranty Reserves for further details of change in warranty estimates during the fiscal year ended April 30, 2017.