Adoption of Accounting Standards and Updates

6 Months Ended

Jan. 31, 2013

Adoption of Accounting Standards and Updates [Abstract]

Adoption of Accounting Standards and Updates

(2)    Adoption of Accounting Standards and Updates

We are required to prepare our consolidated financial statements in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) which is the source for all authoritative U.S. generally accepted accounting principles, which is commonly referred to as “GAAP.” The FASB ASC is subject to updates by FASB, which are known as Accounting Standards Updates (“ASU”).

During the six months ended January 31, 2013, we did not adopt any new accounting standards or updates.