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Note 2 - Recent Accounting Pronouncements
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3 Months Ended |
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Mar. 31, 2013
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| New Accounting Pronouncements and Changes in Accounting Principles [Text Block] |
2.
Recent
accounting pronouncements
a)
In
December 2011, the FASB issued ASU No. 2011-11,
“Balance Sheet” (Topic 210) – Disclosures
about Offsetting Assets and Liabilities (ASU 2011-12).The
amendments in this update require an entity that has
financial instruments and derivative instruments that are
either 1) offset in accordance with either Section
210-20-45 or Section 815-10-45 or 2) subject to an
enforceable master netting arrangement or similar
agreement, to disclose information about offsetting and
related arrangements. The amendments in this ASU will be
required for annual reporting periods beginning on or after
January 1, 2013, and interim periods within those annual
periods. Required disclosures should be presented
retrospectively for all comparative periods. There is no
material impact of the adoption of ASU 2011-11 on our
consolidated financial statements.
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- Definition
The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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