4. Recently adopted accounting pronouncements

3 Months Ended

Mar. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

4. Recently adopted accounting pronouncements

4. Recently adopted accounting pronouncements

In April 2014, the Financial Accounting Standards Board “FASB” issued Accounting Standards Update No. 2014-08 on reporting discontinued operations and disclosures of disposals of components of an entity. The amendments in this Update change the requirements for reporting discountinued operations in Subtopic 205-20. The amendments in this update improve the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have ( or will have ) a major effect on an entity’s operations and financial results.

A public business entity should apply amendments in this Update prospectively to both of the following:

1)	All disposals ( or classifications as held for sale ) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years;
2)	All businesses that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years

Early adoption is permitted, but only for disposals ( or classifications as held for sale ) that have not been reported in financial statements previously issued or available for issuance. The company has reviewed and applied an early adoption in the consolidated interim financial statements.