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Recent Accounting Standards | 3 Months Ended
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Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Standards New Standards Issued But Not Yet Adopted Revenue from Contracts with Customers This accounting standard was issued to clarify the principles for recognizing revenue and to develop a common standard that would remove inconsistencies in revenue requirements; improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; and provide improved disclosures. The guidance provides a five-step model to be used for recognizing revenue for the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The update is effective for annual and interim reporting periods beginning after December 15, 2016 although the Financial Accounting Standards Board is expected to issue an exposure draft deferring the effective date to periods beginning after December 31, 2017. Early application is not permitted. We are currently analyzing the impact of this standard on our financial statements. Amendments to the Consolidation Analysis This standard was issued to respond to concerns regarding the current accounting for consolidation of certain legal entities. Under the new standard, all legal entities are subject to reevaluation under a revised consolidation model which will determine whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs and provide a scope exception from consolidation guidance for reporting entities with interests in certain legal entities who must comply with other requirements. The update is effective for annual and interim reporting periods beginning after December 15, 2015. We are currently analyzing the impact of this standard on our financial statements. Simplifying the Presentation of Debt Issuance Costs This standard was issued to simplify presentation of debt issuance costs. The standard will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this standard. The update is effective for annual and interim reporting periods beginning after December 15, 2015.
PSE And G [Member] |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Standards New Standards Issued But Not Yet Adopted Revenue from Contracts with Customers This accounting standard was issued to clarify the principles for recognizing revenue and to develop a common standard that would remove inconsistencies in revenue requirements; improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; and provide improved disclosures. The guidance provides a five-step model to be used for recognizing revenue for the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The update is effective for annual and interim reporting periods beginning after December 15, 2016 although the Financial Accounting Standards Board is expected to issue an exposure draft deferring the effective date to periods beginning after December 31, 2017. Early application is not permitted. We are currently analyzing the impact of this standard on our financial statements. Amendments to the Consolidation Analysis This standard was issued to respond to concerns regarding the current accounting for consolidation of certain legal entities. Under the new standard, all legal entities are subject to reevaluation under a revised consolidation model which will determine whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs and provide a scope exception from consolidation guidance for reporting entities with interests in certain legal entities who must comply with other requirements. The update is effective for annual and interim reporting periods beginning after December 15, 2015. We are currently analyzing the impact of this standard on our financial statements. Simplifying the Presentation of Debt Issuance Costs This standard was issued to simplify presentation of debt issuance costs. The standard will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this standard. The update is effective for annual and interim reporting periods beginning after December 15, 2015.
Power [Member] |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Standards New Standards Issued But Not Yet Adopted Revenue from Contracts with Customers This accounting standard was issued to clarify the principles for recognizing revenue and to develop a common standard that would remove inconsistencies in revenue requirements; improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; and provide improved disclosures. The guidance provides a five-step model to be used for recognizing revenue for the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The update is effective for annual and interim reporting periods beginning after December 15, 2016 although the Financial Accounting Standards Board is expected to issue an exposure draft deferring the effective date to periods beginning after December 31, 2017. Early application is not permitted. We are currently analyzing the impact of this standard on our financial statements. Amendments to the Consolidation Analysis This standard was issued to respond to concerns regarding the current accounting for consolidation of certain legal entities. Under the new standard, all legal entities are subject to reevaluation under a revised consolidation model which will determine whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs and provide a scope exception from consolidation guidance for reporting entities with interests in certain legal entities who must comply with other requirements. The update is effective for annual and interim reporting periods beginning after December 15, 2015. We are currently analyzing the impact of this standard on our financial statements. Simplifying the Presentation of Debt Issuance Costs This standard was issued to simplify presentation of debt issuance costs. The standard will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this standard. The update is effective for annual and interim reporting periods beginning after December 15, 2015.

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