NOTE 4. NEW ACCOUNTING STANDARDS

Goodwill Impairment Measurements

In September 2011, the Financial Accounting Standards Board ("FASB") issued an update to Topic 350, Intangibles- Goodwill and Other, which is intended to simplify how an entity tests goodwill for impairment. The amendments will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity no longer will be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The changes to Codification Topic 350 will be effective for the Company beginning July 1, 2012 and is not expected to have a material impact on the Company's consolidated financial statements or disclosures. Early adoption is permitted, and the Company expects to adopt the updated guidance in Topic 350 for its annual impairment test to be performed during the fourth quarter of the current fiscal year.

Fair Value Measurements

In May 2011, the FASB and the International Accounting Standards Board ("IASB") issued new guidance on fair value measurement and disclosure requirements. This update will supersede most of the guidance in Topic 820, Fair Value Measurements and Disclosures. Many of the changes to Topic 820, Fair Value Measurements and Disclosures are clarifications of existing guidance or wording changes to align with International Financial Reporting Standards. The update does not extend the use of fair value accounting, but does provide guidance on how it should be applied where it is already required or permitted under current U.S. generally accepted accounting principles. The changes to Topic 820 will be effective for the Company beginning January 1, 2012 and is not expected to have a material impact on the Company's consolidated financial statements or disclosures.

Comprehensive Income

In June 2011, the FASB issued an update to Topic 220, Comprehensive Income, that will supersede some of the guidance in Topic 220. This update requires companies to present comprehensive income in either one or two consecutive financial statements and eliminates the option under current accounting standards that permits the presentation of other comprehensive income in the statement of changes in equity. Subsequently in December 2011, the FASB issued an additional update to Topic 220 that defers certain disclosure requirements originally included in the June update. In particular, the specific requirement to present items that are reclassified from accumulated other comprehensive income to net income separately with their respective components of net income and other comprehensive income has been deferred. The changes to Topic 220 will be effective for the Company beginning July 1, 2012 and will be applied retrospectively. The changes do not have a material impact on the Company's consolidated financial statements, although it will require changing the Company's presentation and disclosure of comprehensive income.