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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2019

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of property and equipment useful lives

Property and equipment are recorded at cost, and depreciated or amortized on a straight-line basis over the following estimated useful lives:

Computers and purchased software						One to five years
Office/operational equipment						Three to five years
Furniture and fixtures						Five to seven years
Internally developed software for internal-use						Five years (1)
Leasehold improvements						Shorter of lease term or useful life
Buildings						Thirty-nine years
Vehicles						Five years
Land						Not depreciated

(1) As part of our reassessment of the estimated useful lives of our property and equipment, our estimate of the useful life of internally developed software for internal-use changed from seven years to five years in the fourth quarter of the year ended September 30, 2019. This change in estimate was applied prospectively and it increased amortization expense by $0.1 million for the year ended September 30, 2019 and is expected to increase amortization expense by approximately $0.7 million for the year ended September 30, 2020.

Schedule of changes in accumulated other comprehensive income (loss), net of taxes

The following table shows the changes in accumulated other comprehensive income (loss), net of taxes (in thousands):

						Foreign Currency Translation Adjustments						Net Change Pension and Other Postretirement Benefit Plans						Accumulated Other Comprehensive Loss
Balance at September 30, 2016						$	(7,345)					$	(1,226)					$	(8,571)
Current-period other comprehensive (loss) income						551						1,589						2,140
Balance at September 30, 2017						(6,794)						363						(6,431)
Current-period other comprehensive (loss) income						(791)						773						(18)
Balance at September 30, 2018						(7,585)						1,136						(6,449)
Current-period other comprehensive (loss) income						(984)						(540)						(1,524)
Balance at September 30, 2019						$	(8,569)					$	596					$	(7,973)

Schedule of new accounting pronouncements

The Company also adopted the following ASUs during the year ended September 30, 2019 that did not have a significant impact on the consolidated financial statements or the related footnote disclosures:

Accounting Standards Update

Effective Date

2017-09

Scope of Modification Accounting

October 1, 2018

2017-01

Clarifying the Definition of a Business

October 1, 2018

2016-16

Intra-Entity Transfers of Assets Other Than Inventory

October 1, 2018

2016-15

Classification of Certain Cash Receipts and Cash Payments

October 1, 2018

2016-01

Recognition and Measurement of Financial Assets and Liabilities, as updated by 2018-03

October 1, 2018

2017-04

Simplifying the Test for Goodwill Impairment

July 1, 2019

2018-14

Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans

September 30, 2019

2018-13

Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements

September 30, 2019

The Company has also completed its evaluation of the following ASUs, which are not expected to have a significant impact on the consolidated financial statements or the related footnote disclosures:

Accounting Standards Update

Effective Date

2018-07

Improvements to Nonemployee Share-based Payment Accounting

October 1, 2019

2018-02

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

October 1, 2019

Accounting Standards Update 2014-09

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of new accounting pronouncements

The cumulative effect of the changes made to the consolidated October 1, 2018 balance sheet for the adoption of ASC 606 was as follows (in thousands):

						Balance at September 30, 2018						Adjustment due to adoption of ASC 606						Balance as adjusted at October 1, 2018
Prepaid expenses and other current assets						$	7,816					$	671					$	8,487
Other assets						$	14,124					$	59					$	14,183
Accumulated deficit						$	(100,045)					$	730					$	(99,315)

The impact of adopting ASC 606 on the Company’s consolidated statement of operations and the consolidated balance sheet for the year ended September 30, 2019 was as follows (in thousands):

Year ended September 30, 2019

As reported

Balance without adoption of ASC 606

Effect of change Higher/(lower)

Consolidated statement of operations:

Fee revenue

78,636

78,989

(353)

						September 30, 2019
						As reported						Balance without adoption of ASC 606						Effect of change Higher/(lower)
Consolidated balance sheet:
Prepaid expenses and other current assets						8,350						7,844						506
Other assets						12,136						11,827						309
Accumulated deficit						(118,572)						(117,757)						(815)

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