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1. Summary of Significant Accounting Policies and Business Operations: Recent Accounting Pronouncements (Policies)
9 Months Ended
Sep. 30, 2021
Policies  
Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

Accounting Standards Updates Adopted

 

In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740):  Simplifying the Accounting for Income Taxes.  The update contains a number of provisions intended to simplify the accounting for income taxes.  Adoption of this update on January 1, 2021 had no impact on the Company’s consolidated financial statements.

  

In January 2020, the FASB issued ASU No. 2020-01, Clarifying the Interactions Between Topic 321, Topic 323 and Topic 815. ASU 2020-01 which makes improvements related to accounting for certain equity securities when the equity method of accounting is applied or discontinued, and scope considerations related to forward contracts and purchased options on certain securities. ASU 2020-01 is effective for fiscal years beginning after December 15, 2020. Adoption of this update on January 1, 2021, had no impact on the Company’s consolidated financial statements.