XML 17 R8.htm IDEA: XBRL DOCUMENT  v2.3.0.11
New Accounting Pronouncements
3 Months Ended
Jun. 30, 2011
New Accounting Pronouncements  
New Accounting Pronouncements

(2) New Accounting Pronouncements

 

In October 2010, the Financial Accounting Standards Board ("FASB") issued new standards for revenue recognition with multiple deliverables. These new standards impact the determination of when the individual deliverables included in a multiple-element arrangement may be treated as separate units of accounting. Additionally, these new standards modify the manner in which the transaction consideration is allocated across the separately identified deliverables by no longer permitting the residual method of allocating arrangement consideration. These new standards are required to be adopted in the first quarter of FY 2012; however, early adoption is permitted. The provisions of this standard were adopted by us on April 1, 2011 and did not have a material impact our consolidated financial statements, results of operations, or cash flows.

 

 

In October 2010, the FASB issued new standards for the accounting for certain revenue arrangements that include software elements. These new standards amend the scope of pre-existing software revenue guidance by removing from the guidance non-software components of tangible products and certain software components of tangible products. These new standards are required to be adopted in the first quarter of FY 2012; however, early adoption is permitted. The provisions of this standard were adopted by us on April 1, 2011 and did not have a material impact our consolidated financial statements, results of operations, or cash flows.

 

 

In January 2011, the FASB issued amended standards that require additional fair value disclosures. These amended standards require disclosures about inputs and valuation techniques used to measure fair value as well as disclosures about significant transfers, beginning in the first quarter of 2011. Additionally, these amended standards require presentation of disaggregated activity within the reconciliation for fair value measurements using significant unobservable inputs (Level 3), beginning in the first quarter of FY 2012. The provisions of this standard were adopted by us on April 1, 2011 and did not have a material impact our consolidated financial statements, results of operations, or cash flows.

 

In May 2011, The FASB issued amendments to fair value measurement standards to achieve common fair value measurement and disclosure requirements in U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. The amended standards clarify the intent regarding the application of existing fair value measurements and disclosures, and change certain principles and requirements for measuring fair value or for disclosing information about fair value measurements. These new standards are required to be adopted in the fourth quarter of FY 2012. We do not expect these new standards to significantly impact our consolidated financial statements.