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Note 12 - Recent Accounting Pronouncements
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9 Months Ended |
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Mar. 31, 2013
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| Description of New Accounting Pronouncements Not yet Adopted [Text Block] |
12. Recent
Accounting Pronouncements
In
February 2013, the Financial Accounting Standards Board
(“FASB”) issued ASU No. 2013-02, "Comprehensive
Income (ASC Topic 220): Reporting of
Amounts Reclassified Out of Accumulated Other Comprehensive
Income" ("ASU 2013-02"), which amends current
comprehensive income guidance. The Company will be
required to present significant amounts reclassified out of
accumulated other comprehensive income by the respective line
items of net income but only if the amount reclassified is
required to be reclassified to net income in its entirety in
the same reporting period. For other amounts that are not
required to be reclassified in their entirety to net income,
an entity is required to cross-reference to other disclosures
required that provide additional detail about those amounts.
The amendment is effective prospectively for public entities
in fiscal years, and interim periods within those years,
beginning after December 15, 2012. We do not believe the
adoption of this guidance will have a material impact on our
consolidated financial statements.
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