RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING STANDARDS

9 Months Ended

Sep. 30, 2013

RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING STANDARDS

RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING STANDARDS

2 RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING STANDARDS

In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires an entity to present information about reclassification adjustments from accumulated other comprehensive income in their interim and annual financial statements in a single note or on the face of the financial statements.  ASU 2013-02 became effective for the Company on January 1, 2013.  The Company’s adoption of this authoritative guidance did not have a material impact on its operating results or financial position.