In the FASB published ASU - Financial Instruments – Credit losses (Topic ): Measurement of Credit Losses on Financial Instruments. The main objective of this Update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this Update replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendment is effective for years beginning after including interim periods with those years. Early adoption is permitted only for those annual reporting periods beginning on or after The Company continues to evaluate the impact of this accounting standard. The impact of adoption of the standard has yet been determined.

 

In the FASB published ASU - Intangibles – Goodwill and Other (Topic ): The amendments seeks to simplify goodwill impairment testing requirements for public entities. Under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Board also eliminated the requirements for any reporting unit with a or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a or negative carrying amount of net assets. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after The impact of the adoption of the standard is being considered, however it is expected that this reduce the complexity of evaluating goodwill for impairment.

 

In the FASB published ASU - Compensation – Stock Compensation (Topic ): Improvements to Non-employee Share-Based Payment Accounting. The amendment simplifies the application of share-based payment accounting for non-employees. The amendments in this ASU are effective for public business entities for financial statements issued for fiscal years beginning after and interim periods within those fiscal years. The impact of the adoption of the standard is expected to have a material impact on the consolidated financial statements.

 

In the FASB published ASU - Fair Value Measurement (Topic ): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. The amendment includes the removal, modification and additional of disclosure requirements under Topic The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after The impact of the adoption of the standard is expected to have a material impact on the consolidated financial statements.