2.2.0.7falseRecent Accounting Pronouncements10201 - Disclosure - Recent Accounting Pronouncementstruefalsefalsefalse1USDfalsefalseUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit13Standardhttp://www.xbrl.org/2003/instancepurexbrli0Unit14Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0Unit1Standardhttp://www.xbrl.org/2003/instancesharesxbrli0$20prk_RecentAccountingPronouncementsAbstractprkfalsenadurationRecent Accounting Pronouncementsfalsefalsefalsefalsefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalsefalse00falsefalsefalsexbrli:stringItemTypestringRecent Accounting Pronouncementsfalse31us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabelfalse1falsefalsefalsefalse00<div>
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Note 2 – <font style="display: inline; text-decoration: underline;" class="_mt">Recent Accounting Pronouncements</font></font></div>
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<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">Adoption of New Accounting Pronouncements:</font></div>
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<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-weight: bold;" class="_mt">Accounting for Transfers of Financial Assets: </font>In June 2009, FASB issued SFAS No. 166, "<font style="font-style: italic; display: inline;" class="_mt">Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140</font>." This removes the concept of a qualifying special-purpose entity from existing GAAP and removes the exception from applying FASB ASC 810-10, <font style="font-style: italic; display: inline;" class="_mt">Consolidation</font> (FASB Interpretation No. 46 (revised December 2003) Consolidation of Variable Interest Entities) to qualifying special purpose entities. The objective of this new guidance is to improve the relevance, representational<font style="font-style: italic; display: inline;" class="_mt"> </font>faithfulness, and comparability of the information that a reporting entity provides in its financial statements about a transfer of<font style="font-style: italic; display: inline;" class="_mt"> </font>financial assets (which includes loan participations); the effects of a transfer on its financial position, financial performance, and cash flows; and a transferor's<font style="font-style: italic; display: inline;" class="_mt"> </font>continuing involvement in transferred financial assets. The Company's adoption of this new guidance on January 1, 2010, did not have a material impact on Park's consolidated financial statements.</font></div>
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<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-weight: bold;" class="_mt">Amendments to FASB Interpretation No. 46(R): </font>In June 2009, FASB issued SFAS No. 167, "<font style="font-style: italic; display: inline;" class="_mt">Amendments to FASB Interpretation No. 46(R)" </font>(ASC 810). The objective of this new guidance is to amend certain requirements of FASB Interpretation No. 46 (revised<font style="font-style: italic; display: inline;" class="_mt"> </font>December 2003), <font style="font-style: italic; display: inline;" class="_mt">Consolidation of Variable Interest Entities, </font>to improve financial reporting by enterprises involved with variable<font style="font-style: italic; display: inline;" class="_mt"> </font>interest entities and to provide more relevant and reliable information to users of financial statements. The Company's adoption of this new guidance on January 1, 2010 had no impact on Park's consolidated financial statements.</font></div>
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<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-weight: bold;" class="_mt"> </font></font> </div>
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-weight: bold;" class="_mt">Improving Disclosures About Fair Value Measurements:</font> In January 2010, the FASB issued an amendment to Fair Value Measurements and Disclosures, Topic 820, <font style="font-style: italic; display: inline;" class="_mt">Improving Disclosures About Fair Value Measurements</font>. This amendment requires new disclosures regarding significant transfers in and out of Level 1 and 2 fair value measurements and the reasons for the transfers. This amendment also requires that a reporting entity present separately information about purchases, sales, issuances and settlements, on a gross basis rather than a net basis for activity in Level 3 fair value measurements using significant unobservable inputs. This amendment also clarifies existing disclosures on the level of disaggregation, in that the reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities, and that a reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements for Level 2 and 3. The new disclosures and clarifications of existing disclosures for ASC 820 are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The adoption of ASC 820 did not have a material effect on the Company's consolidated financial statements.</font></div>
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<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt"><font style="display: inline; font-weight: bold;" class="_mt">Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses:</font> In July 2010, FASB issued Accounting Standards Update 2010-20, <font style="font-style: italic; display: inline;" class="_mt">Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses </font>(ASU 2010-20)<font style="font-style: italic; display: inline;" class="_mt">,</font> to address concerns about the sufficiency, transparency, and robustness of credit risk disclosures for finance receivables and the related allowance for credit losses. This ASU requires new and enhanced disclosures at disaggregated levels, specifically defined as "portfolio segments" and "classes". Among other things, the expanded disclosures include roll-forward schedules of the allowance for credit losses and information regarding the credit quality of receivables as of the end of a reporting period. New and enhanced disclosures are required for interim and annual periods ending after December 15, 2010, although the disclosures of reporting period activity are required for interim and annual periods beginning after December 15, 2010. The adoption of the new guidance will impact interim and annual disclosures, but will not have an impact on the Company's consolidated financial statements.</font></div></div></div> </div>Note 2 – Recent Accounting Pronouncements
Adoption of New Accounting Pronouncements:
Accounting for Transfers of Financial Assets: In June 2009, FASBfalsefalsefalseus-types:textBlockItemTypetextblockRepresents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 154
-Paragraph 2, 17, 18
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 28
-Paragraph 23, 24
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10
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