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Note 2 - Recent Accounting Pronouncements
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Significant Accounting Policies [Text Block]

Note 2 – Recent Accounting Pronouncements

 

Recently Adopted Accounting Pronouncements

 

In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). ASU 2019-12 attempts to simplify aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods within that fiscal year. The Company adopted ASU 2019-12 on January 1, 2021 and there was no material impact on the Company’s consolidated financial statements.