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Recently Issued Accounting Pronouncements
6 Months Ended
Sep. 30, 2011
Accounting Changes and Error Corrections [Abstract] 
Accounting Changes and Error Corrections [Text Block]
Recently Issued Accounting Pronouncements

In June 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2011-05, Comprehensive Income, which is included in Accounting Standards Codification (“ASC”) 220, Presentation of Comprehensive Income . This update improves the comparability, consistency, and transparency of financial reporting and increases the prominence of items reported in other comprehensive income. The guidance requires that all nonowner changes in shareholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The Company elected early adoption, therefore, the guidance will be effective for its interim and annual reporting periods beginning September 30, 2011 and applied retrospectively. The adoption of this guidance did not have a material impact on the Company’s financial condition, results of operations or disclosures.

In September 2011, the FASB issued ASU No. 2011-08, Intangibles – Goodwill and Other , which is included in ASC 350, Testing Goodwill for Impairment . This update reduces the complexity, and potentially the cost, of testing goodwill for impairment. The guidance gives the Company the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, and in some cases skip the two-step impairment test. The guidance will be effective for the Company’s interim and annual reporting periods beginning after January 1, 2012 and applied prospectively. The Company does not expect adoption of this guidance to have a material impact on its financial condition, results of operations or disclosures.