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Note 1 - Basis Of Presentation
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9 Months Ended |
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Feb. 29, 2012
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| Notes To Financial Statements | |
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
1.
BASIS
OF PRESENTATION
The
accompanying unaudited consolidated financial statements of
Artisanal Brands, Inc., Inc. (the “Company”) have been
prepared in accordance with generally accepted accounting
principles for interim financial information and with the
instructions to Form 10-Q. Accordingly, they do not
include all of the information and footnotes required by
generally accepted accounting principles for complete financial
statements. In the opinion of management, all
adjustments considered necessary for a fair presentation
(consisting of normal recurring accruals) have been
included. The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could
differ from those estimates. Operating results
expected for the nine months ended February 29, 2012 are not
necessarily indicative of the results that may be expected for
the year ending May 31, 2012. For further information,
refer to the financial statements and footnotes thereto included
in the Company’s Annual Report on Form 10-K for the year
ended May 31, 2011. Per share data for the periods are
based upon the weighted average number of shares of common stock
outstanding during such period.
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