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2. Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies)
12 Months Ended
Dec. 31, 2016
Policies  
New Accounting Pronouncements, Policy

Recent Accounting Pronouncements

 

In April 2015, the FASB issued ASU No. 2015-03, “Interest Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”. The provisions of ASU No. 2015-03 require companies to present debt issuance costs the same way they currently present debt discounts, as a direct deduction from the carrying value of that debt liability. ASU 2015-03 does not impact the recognition and measurement guidance for debt issuance costs. The guidance in the ASU was effective for fiscal years beginning after December 15, 2015. Early adoption was allowed. The Company adopted ASU No. 2015-03 in the first quarter of 2016 and the Company’s consolidated financial statements reflect the effects of adoption.

 

Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.