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Note 2: Organization and Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies) | 3 Months Ended
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Sep. 30, 2012
Policies |
New Accounting Pronouncements, Policy | In July 2012, the Financial Accounting Standards board (FASB) issued Accounting Standards Update (ASU) 2012-02, Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. The amendments in this ASU allow an entity to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. An entity would not be required to calculate the fair value of an indefinite-lived intangible assets unless the entity determines, based on qualitative assessment, that it is more likely than not the indefinite-lived intangible asset is impaired. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15 2012. The Company adopted the standard on July 1, 2012, and adoption did not have a significant impact on the Company’s financial statements. In October 2012, the FASB issued ASU 2012-04, Technical Corrections and Improvements. The amendments in this ASU make technical corrections, clarifications, and limited-scope improvements to various Topics throughout the Codification. This ASU is effective for public entities for fiscal periods beginning after December 15, 2012.

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- Definition Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. + References No definition available. + Details
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