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Note 12 - Recent Accounting Pronouncements | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 12 — Recent Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2018 - 07: Compensation - Stock Compensation: Improvements to Nonemployee Share-based Payment Accounting (“ASU 2018 - 07” ) . The amendments in this update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. Additionally, the amendments clarify that Topic 718 does not apply to share-based payments used to effectively provide ( 1 ) financing to the issuer or ( 2 ) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The standard is effective for annual periods beginning after December 15, 2018, and interim periods within those annual reporting periods. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic 606. The Company elected to adopt ASU 2018 - 07 as of July 1, 2018. Adoption of ASU 2018 - 07 did not have a material impact on the Company’s consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update 2016 - 18: Statement of Cash Flows (Topic 230 ): Restricted Cash (“ASU 2016 - 18” ). The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2017, and interim periods within those annual reporting periods. The Company adopted ASU 2016 - 18 as of January 1, 2018 and applied it retrospectively to all periods presented. Adoption of ASU 2016 - 18 did not have a material impact on the Company’s consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update No. 2016 - 15: Statement of Cash Flows (Topic 230 ): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016 - 15” ). The amendments in this update clarify how entities should classify certain cash receipts and cash payments on the Consolidated Statements of Cash Flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The standard is effective for annual periods beginning after December 15, 2017, and interim periods within those annual reporting periods. The Company adopted ASU 2016 - 15 as of January 1, 2018. Adoption of ASU 2016 - 15 did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016 - 02: Leases (Topic 842 ) (“ASU 2016 - 02” ). The amendments in this update require lessees, among other things, to recognize right-of-use assets and lease liabilities on the balance sheet for all leases with terms greater than 12 months. This update also introduces new disclosure requirements for leasing arrangements. ASU 2016 - 02 will be effective for the Company in fiscal year 2019, but early adoption is permitted. In July 2018, the FASB issued ASU 2018 - 11 ("Targeted Improvements to Leases"), which provides companies with an additional transition method that allows the effects of the adoption of the new standard to be recognized as a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has evaluated and elected this optional transition method for adoption. Based on the Company’s current lease portfolio, the Company estimates that the adoption of this standard will result in right-of-use assets and lease liabilities between $3,000 and $6,000 being reflected on the Company’s Consolidated Balance Sheets upon adoption of this standard on January 1, 2019; however, this estimate is subject to change as the Company finalizes its implementation. The Company does not expect this standard to have a material impact on the Company’s Consolidated Statements of Comprehensive Loss or Cash Flows. In January 2016, the FASB issued Accounting Standards Update No. 2016 - 01: Financial Instruments - Overall (Subtopic 825 - 10 ): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016 - 01” ). The amendments in this update address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. In particular, the amendments in this update supersede, for public business entities, the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The standard is effective for annual periods beginning after December 15, 2017, and interim periods within those annual reporting periods. The Company adopted ASU 2016 - 01 as of January 1, 2018. Adoption of ASU 2016 - 01 did not have a material impact on the Company’s 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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