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Note 13 - Recent Accounting Pronouncements
 3 Months Ended
Apr. 30, 2021
Notes to Financial Statements  
Accounting Standards Update and Change in Accounting Principle [Text Block]
Note
13
 - Recent accounting pronouncements
 
In
March 2020,
the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")
2020
-
04,
 
Reference Rate Reform
(Topic
848
), which provides guidance designed to provide relief from the accounting analysis and impacts that
may
otherwise be required for modifications to agreements necessitated by the scheduled discontinuation of LIBOR on
December 31, 2021.
It also provides optional expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by reference rate reform. The ASU provides the option to account for and present a modification that meets the scope of the standard as an event that does
not
require contract remeasurement at the modification date or reassessment of a previous accounting determination required under the relevant topic or subtopic. This ASU is effective for all entities; however, application of the guidance is optional, is only available in certain situations and is only available for companies to apply from
March 12, 2020
until
December 31, 2022. 
The Company's Senior Credit Facility which matures on
September 20, 2021 
bears interest using an alternate base rate or LIBOR plus an applicable margin.  Based on the maturity of the Senior Credit Facility prior to the discontinuation of LIBOR, the Company does
not
expect a material impact from the adoption of this standard on the financial statements of the Company.
 
In
June 2016,
the FASB issued ASU
No.
2016
-
13,
Financial Instruments-Credit Losses
(Topic
326
): Measurement of Credit Losses on Financial Instruments. The new guidance affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets
not
excluded from the scope that have the contractual right to receive cash. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after
December 15, 2019,
with early adoption permitted. A recently adopted amendment has delayed the effective date until fiscal years beginning after
December 15, 2022. 
The Company is currently evaluating this standard and the impact to the financial statements of the Company. 
 
The Company evaluated other recent accounting pronouncements and does
not
expect them to have a material impact on its consolidated financial statements or related disclosures.