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RECENT ACCOUNTING PRONOUNCEMENTS (Policies)
12 Months Ended
Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Recent Accounting Pronouncements

Recent Accounting Pronouncements – Adopted

In December 2019, the FASB issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. This ASU removed certain income tax exceptions and modifies existing guidance to simplify the accounting for income taxes. For public entities, the update was effective for fiscal years and interim period within those fiscal years, beginning after December 15, 2020. The Company adopted this ASU on January 1, 2021, which did not result in a material impact to the consolidated financial statements and disclosures.

Recent Accounting Pronouncements – Issued, not yet Adopted

There were no applicable material accounting pronouncements that have been issued but were not yet adopted as of December 31, 2021.