XML 23 R12.htm IDEA: XBRL DOCUMENT v3.23.2
New Accounting Pronouncements
 9 Months Ended
Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncements
3.
NEW ACCOUNTING PRONOUNCEMENTS:

In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-04 — Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations which is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance requires companies that use supplier finance programs to make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated roll forward information. Only the amount outstanding at the end of the period must be disclosed in interim periods. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The guidance becomes effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the roll forward information, which is effective for fiscal years beginning after December 15, 2023. We plan to adopt ASU 2022-04 in fiscal 2024. We are currently evaluating the impact that this standard will have on our consolidated financial statements.

The Company currently has no other material accounting pronouncements recently adopted or yet to be adopted as of June 30, 2023.