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Note 2 - Recent Accounting Pronouncements
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
NOTE
2
RECENT ACCOUNTING PRONOUNCEMENTS
 
Recent accounting guidance adopted
 
FASB issued ASU
2016
-
02,
ASU
2018
-
09,
ASU
2018
-
10,
2018
-
11,
and
2019
-
01
to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements and to provide guidance related to accounting for leases, such as the application of an implicit rate, lessee reassessment of lease classification and certain transition adjustments. The Company elected ASU-
11’s
alternative transition approach of recording lease liabilities and right-of-use assets via a cumulative effect adjustment to retained earnings at the date of adoption. Effective
January 1, 2019,
the Company adopted ASU
2016
-
02,
ASU
2018
-
09,
ASU
2018
-
10,
2018
-
11
and
2019
-
0.
The result is the recording of the lease liability and the right-of-use asset to the balance sheet and it did
not
have a material effect on our consolidated results of operations or consolidated cash flows.
 
In
June 2018,
the FASB issued ASU
2018
-
07
as a simplification for the accounting for non-employee share-based payment transactions resulting from expanding the scope of Topic
718,
Compensation-Stock Compensation. This standard is effective for fiscal years beginning after
December 15, 2018.
Effective
January 1, 2019,
the Company adopted ASU
2018
-
07
and it did
not
have a material effect on our consolidated financial statements.
 
In
February 2018,
the FASB issued ASU
2018
-
02
to provide guidance related to adjustments for deferred tax assets and liabilities based on the changes created by the U.S. federal government tax bill enacted
December 22, 2017.
This standard is effective for fiscal years beginning after
December 15, 2018.
Effective
January 1, 2019,
the Company adopted ASU
2018
-
02
and it did
not
have a material effect on our consolidated financial statements.