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2. Basis of Presentation and Significant Accounting Policies: Long-lived Assets (Policies)
9 Months Ended
Jul. 31, 2018
Policies  
Long-lived Assets

Long-Lived Assets

 

The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable. Impairment is recognized to the extent the sum of undiscounted estimated future cash flows expected to result from the use of the asset is less than the carrying value. Assets to be disposed of are carried at the lower of their carrying value or fair value, less costs to sell. The Company evaluates the periods of amortization continually in determining whether later events and circumstances warrant revised estimates of useful lives. If estimates are changed, the unamortized costs will be allocated to the increased or decreased number of remaining periods in the asset’s revised life.

 

During the third quarter of fiscal year 2018, the Company recorded approximately $230,000, $510,000 and $736,000, a total of $1,476,000, of costs associated with an increase in the provision for obsolete and slow moving PASSUR Network parts and supplies, an impairment charge and write-off of carrying amounts related to  certain PASSUR Network systems, and capitalized software development costs, respectively. Please refer to footnotes above for further details. The Company did not have any additions to inventory reserves, impairment charges, or write-offs during the three and nine months ended July 31, 2017.