XML 22 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Recently Adopted Accounting Standards
3 Months Ended
Jul. 31, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]  
Recently Adopted Accounting Standards

2. Recently Adopted Accounting Standards

In June 2016, the FASB issued an accounting standards update on the measurement of credit losses on financial instruments. The standard introduces a new model for measuring and recognizing credit losses on financial instruments, requiring financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. It also requires that credit losses be recorded through an allowance for credit losses. On April 25, 2020, we adopted the standard with no material impact to our condensed consolidated financial statements.

There have been no other significant changes in our significant accounting policies as of and for the three months ended July 31, 2020, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended April 24, 2020.

Recent accounting pronouncements pending adoption not discussed are either not applicable or will not have or are not expected to have a material impact on our consolidated financial position, results of operations, or cash flows.