Note C - New Accounting Standards	3 Months Ended
Jun. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE C — NEW ACCOUNTING STANDARDS In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016 - 15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (“ASU 2016 - 15” ). ASU 2016 - 15 eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows by adding or clarifying guidance on eight specific cash flow issues. This new guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the impact that adoption of the provisions of ASU 2016 - 15 will have on its consolidated financial statements but does not expect a material impact. In February 2016, the FASB issued Accounting Standards Update No. 2016 - 02, Leases (“ASU 2016 - 02” ). ASU 2016 - 02 establishes a new lease accounting standard that requires lessees to recognize a right of use asset and related lease liability for most leases having lease terms of more than 12 months. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. This new guidance is effective for annual and interim periods beginning after December 15, 2018, but can be early adopted. The Company is evaluating the impact that adoption of the provisions of ASU 2016 - 02 will have on its consolidated financial statements but does not expect a material impact. In May 2014, the FASB issued Accounting Standards Update No. 2014 - 09, Revenue from Contracts with Customers (“ASU 2014 - 09” ). ASU 2014 - 09 states that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. The update supersedes most current revenue recognition guidance, including industry-specific guidance. ASU 2014 - 09 is effective for interim and annual periods beginning after December 15, 2016; early application is not permitted. In August 2015, the FASB issued Accounting Standards Update No. 2015 - 14, Revenue from Contracts with Customers - Deferral of the Effective Date (“ASU 2015 - 14” ). ASU 2015 - 14 defers the effective date of ASU 2014 - 09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, and only permits entities to adopt the standard one year earlier as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is evaluating the impact that adoption of the provisions of ASU 2014 - 09 will have on its consolidated financial statements but does not expect a material impact.

NOTE C — NEW ACCOUNTING STANDARDS

August 2016,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update

No.

2016

15,

Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (“ASU

2016

15”

). ASU

2016

eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows by adding or clarifying guidance on

eight

specific cash flow issues. This new guidance is effective for fiscal years beginning after

December 15, 2017,

and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the impact that adoption of the provisions of ASU

2016

will have on its consolidated financial statements but does

not

expect a material impact.

February

2016,

the FASB issued Accounting Standards Update

No.

2016

02,

Leases (“ASU

2016

02”

). ASU

2016

establishes a new lease accounting standard that requires lessees to recognize a right of use asset and related lease liability for most leases having lease terms of more than

months. Leases with a term of

months or less will be accounted for similar to existing guidance for operating leases. This new guidance is effective for annual and interim periods beginning after

December

15,

2018,

but can be early adopted. The Company is evaluating the impact that adoption of the provisions of ASU

2016

will have on its consolidated financial statements but does

not

expect a material impact.

May 2014,

the FASB issued Accounting Standards Update

No.

2014

09,

Revenue from Contracts with Customers (“ASU

2014

09”

). ASU

2014

states that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. The update supersedes most current revenue recognition guidance, including industry-specific guidance. ASU

2014

is effective for interim and annual periods beginning after

December 15, 2016;

early application is

not

permitted. In

August 2015,

the FASB issued Accounting Standards Update

No.

2015

14,

Revenue from Contracts with Customers - Deferral of the Effective Date (“ASU

2015

14”

). ASU

2015

defers the effective date of ASU

2014

to annual reporting periods beginning after

December 15, 2017,

including interim reporting periods within that reporting period, and only permits entities to adopt the standard

one

year earlier as of annual reporting periods beginning after

December 15, 2016,

including interim reporting periods within that reporting period. The Company is evaluating the impact that adoption of the provisions of ASU

2014

will have on its consolidated financial statements but does

not

expect a material impact.