Recently Issued and Proposed Accounting Standards

9 Months Ended

Sep. 30, 2013

Recently Issued and Proposed Accounting Standards

Recently Issued and Proposed Accounting Standards

Note 2 - Recently Issued and Proposed Accounting Standards

Balance Sheet Offsetting:  The FASB amended the guidance governing the offsetting, or netting, of assets and liabilities on the balance sheet.  Under the revised guidance, an entity is required to disclose both the gross and net information about instruments and transactions that are eligible for offset on the balance sheet, as well as instruments or transactions subject to a master netting agreement. This standard was effective for annual periods beginning after January 1, 2013.  We implemented this standard in the first quarter of 2013 and it did not have a material impact on our results of operations, financial position or liquidity.