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Note 2 - Recent Accounting Pronouncements
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
Note
2
–
Recent
Accounting
Pronouncements
 
In
May 2014,
the FASB issued ASU
2014
-
09,
Revenue from Contracts with Customers, as amended (commonly referred to as ASC
606
), which replaces numerous requirements in U.S. GAAP, including industry-specific requirements, and provides companies with a single revenue recognition model for recognizing revenue from contracts with customers and significantly expanded the disclosure requirements for revenue arrangements. The new standard, as amended, was effective for the Company for interim and annual reporting periods beginning on
January 1, 2018.
 
As discussed in Note
3,
the Company adopted ASC
606
using the modified retrospective transition method. Results for reporting periods beginning after
December 31, 2017
are presented under ASC
606,
while prior period comparative information has
not
been restated and continues to be reported in accordance with ASC
605,
Revenue Recognition, the accounting standard in effect for periods ended prior to
January 1, 2018.
Based on contracts in process at
December 31, 2017,
the Company determined that the impact of the adoption of ASC
606
is immaterial and that the Company will
not
recognize any of the accelerated net sales at
January 1, 2018
in the Company’s statements of operations for any historical or future period.