Note 1 - Basis of Presentation

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Basis of Accounting [Text Block]

1.

  BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form

10

-Q and Article

8

of Regulation S-

X.

Accordingly, they do

not

include all the information and footnotes required by generally accepted accounting principles for complete financial statements. The consolidated financial statements include the accounts of Crawford United Corporation and its wholly-owned subsidiaries (the “Company”). Significant intercompany transactions and balances have been eliminated in the financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the

three

and

nine

months ended

September 30, 2019

are

not

necessarily indicative of the results that

may

be expected for the year ended

December 31, 2019.

For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form

10

-K for the year ended

December 31, 2018. 

During the

three

and

nine

months ended

September 30, 2019,

there were 

no

changes to our significant accounting policies other than the adoption of the new standard for leases, as discussed in Note

2

below.

Reclassifications

Certain prior year amounts were reclassified to conform to the current year presentation. These reclassifications have

no

effect on the financial position or results of operations reported as of and for the periods presented.