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SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended
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Mar. 31, 2015
Accounting Policies [Abstract] |
Significant Accounting Policies [Text Block] |
3. | SIGNIFICANT ACCOUNTING POLICIES
Following are certain remarkable accounting principles and disclosures. Fair Value Accounting GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
| ⋅ | Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
| ⋅ | Level 2 – Include other inputs that are directly or indirectly observable in the marketplace.
| ⋅ | Level 3 – Unobservable inputs which are supported by little or no market activity.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company classifies its marketable securities as available-for-sale, which are reported at fair value. Unrealized holding gains and losses, net of the related income tax effect, if any, on available-for-sale securities are excluded from income and are reported as accumulated other comprehensive income in stockholders’ equity. Realized gains and losses from securities classified as available for-sale are included in income. The Company measures the fair value of its marketable securities based on quoted prices for identical securities in active markets, or Level 1 inputs. As of March 31, 2015, available-for-sale securities consisted of the following:
|  |  |  |  | Gross |  |  |  |
(in thousands) |  | Cost |  | Unrealized |  | Fair |
Available for Sale |  | Basis |  | Gains |  | Value |
Tax-Advantaged Bond Fund |  | $ | 505 |  | $ | 104 |  | $ | 609 |
The Company reviews its marketable securities to determine whether a decline in fair value of a security below the cost basis is other than temporary. Should the decline be considered other than temporary, the Company writes down the cost basis of the security and include the loss in current earnings as opposed to an unrealized holding loss. No losses were recognized during the quarter ended March 31, 2015. Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
(in thousands) |  | Carrying |  |  |  |  |  |  |  |  |  |
March 31, 2015 |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |
Marketable securities |  | $ | 609 |  | $ | 609 |  | $ | - |  | $ | - |
(in thousands) |  | Carrying |  |  |  |  |  |  |  |  |  |
September 30, 2014 |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |
Marketable securities |  | $ | 555 |  | $ | 555 |  | $ | - |  | $ | - |
Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

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- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18861-107790 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18743-107790 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18854-107790 + Details
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