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Recently Issued Accounting Standards Not Yet Adopted
6 Months Ended
Jan. 31, 2021
Accounting Changes and Error Corrections [Abstract]  
Recently Issued Accounting Standards Not Yet Adopted

Note 13—Recently Issued Accounting Standards Not Yet Adopted


Recently Issued Accounting Standards Not Yet Adopted


In December 2019, the FASB issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for the Company in the first quarter of fiscal 2022 on a prospective basis, and early adoption is permitted. The Company will adopt the new standard effective August 1, 2021 and does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.


With the exception of the accounting standards discussed above, there have been no other recent accounting pronouncements or changes in accounting pronouncements during the six months ended January 31, 2021 that are of significance or potential significance to the Company.