Recent Accounting Pronouncements

3 Months Ended

Apr. 30, 2011

Recent Accounting Pronouncements

Recent Accounting Pronouncements

NOTE 2 - RECENT ACCOUNTING PRONOUNCEMENTS

Recently Adopted Pronouncements

In January 2010, the Financial Accounting Standards Board issued an accounting standard update related to improving disclosures about fair value measurements. The update requires reporting entities to make new disclosures about recurring or nonrecurring fair value measurements including significant transfers into and out of Level 1 and Level 2 fair value measurements and information on purchases, sales, issuances, and settlements on a gross basis in the reconciliation of Level 3 fair value measurements. The accounting standard update is effective for reporting periods beginning after December 15, 2009, except for Level 3 reconciliation disclosures which are effective for periods beginning after December 15, 2010. Adoption of this pronouncement as it relates to Level 1, Level 2, and Level 3 fair value disclosures did not impact the Company's consolidated financial statements.