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ACCOUNTING STANDARDS
6 Months Ended
Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract]  
ACCOUNTING STANDARDS

2.          aCCOUNTING STANDARDS

 

Recently Issued but not Adopted Accounting Pronouncements 

 

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. The updated guidance is effective for interim and annual periods beginning after December 15, 2018. The Company is currently evaluating the effect on its financial statements.