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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: New Accounting Pronouncement (Policies)
6 Months Ended
Jun. 30, 2021
Policies  
New Accounting Pronouncement

New Accounting Pronouncement

 

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, ("ASU 2019-12") which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The new standard is effective for fiscal years beginning after December 15, 2020. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We do not expect adoption of this standard to have a material effect on our financial statements.