New Accounting Standards

6 Months Ended

Apr. 30, 2012

New Accounting Standards [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

New Accounting Standards

The new accounting standard, "Comprehensive Income", becomes effective for fiscal years beginning after December 15, 2011 which for the Company would be the first quarter ended January 31, 2013. This standard requires that other comprehensive income be presented as either a separate statement, or as an addition to the statement of income and prohibits the presentation of other comprehensive income in the statement of shareholders' equity. As the Company has historically presented other comprehensive income as part of the statement of shareholders' equity, the Company will have to retroactively restate its financial statements for this change upon adoption of this accounting standard.

In May 2011, the FASB issued an amendment to achieve common fair value measurement and disclosure requirements with accounting principles generally accepted in the United States of America and IFRS. This guidance amends certain accounting and disclosure requirements related to fair value meaurements to ensure that fair value has the same meaning in US GAAP and IFRS and that their respective fair value measurement and disclosure requirements are the same. This amendment is effective for a reporting entity's interim and annual periods beginning after December 15, 2011. We adopted the guidance of the fair value accounting standard as required by this amendment and it did not have a material impact on our disclosures, financial position or results of operations for the period then ended.