Note 3 - Recently Issued Accounting Standards

3 Months Ended

Jun. 30, 2016

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

NOTE 3. RECENTLY ISSUED ACCOUNTING STANDARDS

      In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016- 13,

Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements

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This ASU requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendment is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, which will be fiscal 2021 for us. We have not yet evaluated the impact of ASU  2016- 13 on our financial statements.