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New Accounting Pronouncements
9 Months Ended
Sep. 30, 2011
New Accounting Pronouncements [Abstract] 
Description of New Accounting Pronouncements Not yet Adopted [Text Block]
New Accounting Pronouncements

Information concerning recently issued accounting pronouncements that have not been adopted by the Company is presented below.

Accounting Standards Update 2011-04 - Fair Value Measurement: Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs

The Financial Accounting Standards Board ("FASB") released amended guidance to provide a consistent definition of fair value and to ensure fair value measurement and disclosure requirements are similar between U.S. GAAP and International Financial Reporting Standards.  The update changes certain fair value measurement principles, further enhances disclosure requirements related to transfers between hierarchy levels, and increases qualitative disclosures regarding unobservable inputs used in Level 3 measurements, including the sensitivity of recurring Level 3 measurements to changes in significant unobservable inputs. In addition, the update requires disclosure of the level within the fair value hierarchy for fair value disclosures of instruments recorded on an amortized cost basis. The update is required to be applied prospectively and is effective for interim and annual reporting periods beginning on or after December 15, 2011, with early adoption prohibited. The Company does not believe this guidance will have a material impact on the Company's financial statements and will comply with this requirement upon its effective date.

Accounting Standards Update 2011-05 - Comprehensive Income: Presentation of Comprehensive Income

The FASB released amended guidance regarding presentation of comprehensive income in financial statements. The update requires entities to report comprehensive income in either one continuous statement of comprehensive income or in two separate but consecutive statements. Under the two-statement approach, the first statement would include components of net income consistent with current guidance, and the second statement would include components of other comprehensive income. The update is effective for interim and annual reporting periods beginning after December 15, 2011, with early adoption permitted. The Company does not believe this guidance will have a material impact on the Company's financial statements and will comply with this requirement no later than its effective date.

Accounting Standards Update 2011-08 - Intangibles-Goodwill and Other: Testing Goodwill for Impairment

The FASB released amended guidance that is intended to simplify requirements to test goodwill for impairment. Under the amended guidance, an entity will have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less that its carrying amount. If an entity determines it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the two-step impairment test will not be necessary. However, if an entity is unable to make this conclusion, then it will be required to perform the first step of the two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit, as required by current guidance. The update is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company is currently evaluating the impacts of this new standard.