Recent Accounting Pronouncements

3 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Recent Accounting Pronouncements

(3) Recent Accounting Pronouncements. In June 2011, accounting guidance was issued that requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of equity. This standard was adopted by the Company on January 1, 2012. As the new adoption relates to presentation only, the adoption of this standard did not have a material effect on the Company’s financial position or results of operations.