Recent accounting pronouncements

3 Months Ended

Apr. 30, 2012

Recent accounting pronouncements [Abstract]

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

Recent accounting pronouncements. In June 2011, FASB issued ASU No. 2011-05, Comprehensive Income (Topic 220), Presentation of Comprehensive Income ("Update 2011-05"). Update 2011-05 allows the option of presenting 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, removing the option to present the components of other comprehensive income as part of the statement of stockholders' equity. The guidance does not change the components that are recognized in net income or other comprehensive income. The amended guidance is effective for interim and annual periods beginning after December 15, 2011, and is applied retrospectively. The Company adopted ASU 2011-08 on April 30, 2012 with no impact to the Consolidated Financial Statements.

Other accounting standards that have been issued by the FASB or other standards setting bodies that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.