XML 31 R26.htm IDEA: XBRL DOCUMENT v3.20.1
2. Basis of Presentation and Significant Accounting Policies: Recent Accounting Pronouncements (Policies)
6 Months Ended
Apr. 30, 2020
Policies  
Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted

 

In February 2016, the FASB issued ASU 2016-02, which amends the ASC and creates Topic 842, Leases (“Topic 842”). Topic 842 requires lessees to recognize lease assets and lease liabilities for those leases classified as operating leases under previous GAAP on the balance sheet. On November 1, 2019, the Company adopted Topic 842. As a result of the adoption of Topic 842, the Company recognized operating lease right-of-use (“ROU”) assets and liabilities of $1,497,000 and $1,620,000, respectively. The Company does not have any finance lease ROU assets and liabilities. There was no change to our condensed consolidated statements of operations or cash flows, as a result of the adoption.