XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
New Accounting Pronouncements
 12 Months Ended
Jun. 30, 2021
New Accounting Pronouncements [Abstract]  
New Accounting Pronouncements 2.    NEW ACCOUNTING PRONOUNCEMENTS

 

In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes (Topic 740)", which removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. This guidance is effective for annual reporting periods, and interim periods within those reporting periods, beginning after December 15, 2020 with early adoption permitted. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings in the period of adoption. The Company is currently evaluating the impacts the adoption of this guidance will have on its Consolidated Financial Statements.