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Note 2 - Impact of ASC 606 Adoption
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
2.
Impact of ASC
606
Adoption
 
On
January 1, 2018,
the Company adopted ASU
No.
2014
-
09,
Revenue from Contracts with Customers
” (“ASU
2014
-
09”
) using the modified retrospective method of transition. Under this method of transition, the Company applied ASU
2014
-
09
to all new contracts entered into on and after
January 1, 2018
and all existing contracts for which all (or substantially all) of the revenue attributable to a contract had
not
been recognized under legacy revenue guidance.
 
ASU
2014
-
09
supersedes nearly all existing revenue recognition guidance under U.S. GAAP and includes a
five
step process to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services.
 
For the
six
 months ended
June 30, 2018,
there was
no
impact to the Company's reported revenues, operating costs and expenses or net income as a result of adopting ASU
2014
-
09,
as compared to legacy revenue guidance. In addition,
no
cumulative catch-up adjustment to accumulated deficit was required on
January 1, 2018
as a result of adopting ASU
2014
-
09.