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Recently Issued Accounting Standards
3 Months Ended
Mar. 31, 2012
Recently Issued Accounting Standards

13. Recently Issued Accounting Standards

 

In December 2011, the FASB issued ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities, which amends ASC 210, Balance Sheet. This ASU requires entities to disclose gross and net information about both instruments and transactions eligible for offset in the statement of financial position and those subject to an agreement similar to a master netting arrangement. This would include derivatives and other financial securities arrangements. The effective date is January 1, 2013 and must be applied retrospectively. It is expected that the adoption of this ASU will have no effect on the Company’s consolidated financial statements.