New Accounting Principles

9 Months Ended

Sep. 30, 2011

NEW ACCOUNTING PRINCIPLES

NEW ACCOUNTING PRINCIPLES

2. NEW ACCOUNTING PRINCIPLES

In June 2011, the FASB issued ASU No. 2011-05, "Comprehensive Income (Topic 220): Presentation of Comprehensive Income."  This update will require companies to present the components of net income and other comprehensive income either as one continuous statement or as two consecutive statements.  It eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity.  The standard does not change the items which must be reported in other comprehensive income, how such items are measured or when they must be reclassified to net income.  The update is effective for interim and annual periods beginning after December 15, 2011.  The update will have no impact on the Company's financial condition or results of operations.