Note 6 - Goodwill and Other Intangible Assets

3 Months Ended

Feb. 28, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

 

6

. Goodwill and Other Intangible Assets

Accounting Standard Codification (“ASC”)

350

“Goodwill and Other Intangible Assets” requires that assets with indefinite lives

no

longer be amortized, but instead be subject to annual impairment tests.

Following the guidelines contained in ASC

350,

the Company tests goodwill and intangible assets that are

not

subject to amortization for impairment annually or more frequently if events or circumstances indicate that impairment is possible. The Company has elected to conduct its annual test during the

first

quarter. During the quarter ended

February 28, 2019,

management qualitatively assessed goodwill to determine whether testing was necessary. Factors that management considers in this assessment include macroeconomic conditions, industry and market considerations, overall financial performance (both current and projected), changes in management and strategy, and changes in the composition and carrying amounts of net assets. If this qualitative assessment indicates that it is more likely than

not

that the fair value of a reporting unit is less than its carrying value, a quantitative assessment is then performed. Based on a qualitative evaluation, management determined that the carrying value of goodwill was

not

impaired at

February 28, 2019,

and a quantitative assessment was

not

considered necessary.