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NEW ACCOUNTING PRONOUNCEMENTS
 3 Months Ended
Jan. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
NEW ACCOUNTING PRONOUNCEMENTS
13.
NEW ACCOUNTING PRONOUNCEMENTS
 
In December 2016, the FASB issued Accounting Standards Update, or ASU, No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, which affects narrow aspects of the guidance issued in ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2016-20 provides further guidance and clarification, among other things, on certain aspects of ASU 2014-09 such as disclosure of remaining performance obligations and disclosure of prior-period performance obligations. ASU 2016-20 has the same effective date as ASU 2014-09, which will be our fiscal year 2019, including interim periods within the fiscal year. We are assessing the method of adoption and the impact this new accounting guidance will have on our consolidated financial statements.
 
In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which provides guidance to assist companies in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendment provides a more robust framework to use in determining when a set of transferred assets and activities (“set”) is a business. ASU 2017-01 is effective for our fiscal year 2019, including interim periods within the fiscal year. We do not expect that the adoption of this accounting standard update will have a material effect on our consolidated financial statements.
 
In January 2017, the FASB issued ASU No. 2017-04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test, which is the requirement for an entity to calculate the implied fair value of goodwill in measuring a goodwill impairment loss. ASU 2017-04 provides that a company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and should recognize an impairment charge if the carrying value exceeds the fair value of the reporting unit, but only to the extent of the goodwill amount allocated to that reporting unit. Companies will still have the option to perform a qualitative assessment to determine if the quantitative impairment test is necessary. ASU 2017-04 is effective for our fiscal year 2021, including interim periods within the fiscal year. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates on or after January 1, 2017. We are assessing the impact this new guidance will have on our consolidated financial statements.