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12. RECENT ACCOUNTING PRONOUNCEMENTS
9 Months Ended
Feb. 28, 2014
Recent Accounting Pronouncements  
RECENT ACCOUNTING PRONOUNCEMENTS

12.    RECENT ACCOUNTING PRONOUNCEMENTS

 

In July 2013, the Financial Accounting Standards Board (FASB) issued authoritative guidance that will require an unrecognized tax benefit to be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, with certain exceptions. The authoritative guidance becomes effective for the Company in the first quarter of fiscal 2015, with early adoption permitted. The guidance is not expected to have an impact on the Company's financial position or results of operations.