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Recent Accounting Pronouncements
3 Months Ended
Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements

(7) RECENT ACCOUNTING PRONOUNCEMENTS

 

In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740) – Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. This ASU incorporates SEC Staff Accounting Bulletin No. 118 (“SAB 118”), which addresses the accounting implications of the major tax reform legislation, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the “2017 Tax Act”), enacted on December 22, 2017. SAB 118 allows a company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date and was effective upon issuance. The Company continues to analyze the 2017 Tax Act.