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Note 2: Fair Value of Financial Instruments
12 Months Ended
Jun. 30, 2011
Fair Value Measures and Disclosures  
Fair Value Disclosures [Text Block]

 

NOTE 2: FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair values for held-to-maturity securities are based on quoted market prices. For cash equivalents, amounts receivable or payable and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets. The fair value of long term debt also approximates carrying value as estimated using discounting cash flows based on the Company’s current incremental borrowing rates or quoted prices in active markets.