Note 3 - Recently Issued Accounting Standards	6 Months Ended
Sep. 30, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 3. RECENTLY ISSUED ACCOUNTING STANDARDS Recently Adopted Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018 - 13, Fair Value Measurement . ASU 2018 - 13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The amendments in ASU 2018 - 13 will be effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, which will be fiscal 2021 for us. Early adoption is permitted for the removed disclosures and delayed adoption is permitted until fiscal 2021 for the new disclosures. We adopted ASU 2018 - 13 early, effective the quarter ended September 30, 2018. The removed and modified disclosures were adopted on a retrospective basis and the new disclosures on a prospective basis. The adoption did not have a significant effect on our financial statements. In February 2018, the FASB issued ASU No. 2018 - 02, Income Statement—Reporting Comprehensive Income (Topic 220 ) . ASU 2018 - 02 addresses the effect of the change in the U.S. federal corporate tax rate on items within accumulated other comprehensive income or loss due to the enactment of the Act “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (the “Tax Reform Act”) on December 22, 2017. The guidance will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which will be fiscal 2020 for us. Early adoption is permitted, and we adopted ASU 2018 - 02 in the quarter ended June 30, 2018. The adoption resulted in a $60,365 reclassification from accumulated other comprehensive loss to retained earnings due to the change in the federal corporate tax rate. In August 2016, the FASB issued ASU No. 2016 - 15, Statement of Cash Flows (Topic 230 ), Classification of Certain Cash Receipts and Cash Payments , which made eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. We adopted ASU 2016 - 15 retrospectively in the quarter ended June 30, 2018. The adoption did not have a significant impact on our financial statements. In January 2016, the FASB issued ASU No. 2016 - 01, Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The amendment changed the accounting for and financial statement presentation of equity investments, other than those accounted for under the equity method of accounting or those that result in consolidation of the investee. The amendment provides clarity on the measurement methodology to be used for the required disclosure of fair value of financial instruments measured at amortized cost on the balance sheet and clarifies that an entity should evaluate the need for a valuation allowance on deferred tax assets related to available-for-sale securities in combination with the entity’s other deferred tax assets, among other changes. We adopted ASU 2016 - 01 retrospectively in the quarter ended June 30, 2018. The adoption did not have a significant impact on our financial statements. In May 2014, the FASB issued ASU No. 2014 - 09, which superseded the revenue recognition requirements in Accounting Standards Codification 605, Revenue Recognition . ASU 2014 - 09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. We adopted the guidance using the modified retrospective method to contracts that were not complete as of April 1, 2018. The adoption did not have significant impact on our financial statements. Information regarding all other applicable recently issued accounting standards, on which our position have not changed since our latest annual financial statements, are contained in the financial statements included in our Annual Report on Form 10 -K for the year ended March 31, 2018. New Accounting Standard Not Yet Adopted In February 2016, the FASB issued ASU No. 2016 - 02, Lease Accounting . ASU 2016 - 02 requires recognition of lease assets and lease liabilities on the balance sheet of lessees. In July 2018, the FASB issued ASU 2018 - 10, Codification Improvements to Topic 842 (Leases) , which provides narrow amendments to clarify how to apply certain aspects of the new lease standard. The guidance will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which will be fiscal 2020 for us. In July 2018, the FASB issued ASU No. 2018 - 11, Leases Topic ( 842 ): Targeted Improvements. This ASU provides companies an option to apply the transition provisions of the new lease standard at its adoption date instead of at the earliest comparative period presented in its financial statements. We expect to adopt the new lease guidance using the newly-approved transition method. We expect to recognize a liability and corresponding asset associated with in-scope operating and finance leases but are still in the process of determining those amounts and the processes required to account for leasing activity on an ongoing basis.

NOTE

RECENTLY ISSUED ACCOUNTING STANDARDS

Recently Adopted Accounting Standards

August 2018,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

No.

2018

13,

Fair Value Measurement

. ASU

2018

modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The amendments in ASU

2018

will be effective for fiscal years beginning after

December

15,

2019,

and interim periods within those fiscal years, which will be fiscal

2021

for us. Early adoption is permitted for the removed disclosures and delayed adoption is permitted until fiscal

2021

for the new disclosures. We adopted ASU

2018

early, effective the quarter ended

September 30, 2018.

The removed and modified disclosures were adopted on a retrospective basis and the new disclosures on a prospective basis. The adoption did

not

have a significant effect on our financial statements.

In

February 2018,

the FASB issued ASU

No.

2018

02,

Income Statement—Reporting Comprehensive Income (Topic

220

)

. ASU

2018

addresses the effect of the change in the U.S. federal corporate tax rate on items within accumulated other comprehensive income or loss due to the enactment of the Act “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year

2018”

(the “Tax Reform Act”) on

December

22,

2017.

The guidance will be effective for fiscal years beginning after

December

15,

2018,

and interim periods within those fiscal years, which will be fiscal

2020

for us. Early adoption is permitted, and we adopted ASU

2018

in the quarter ended

June

30,

2018.

The adoption resulted in a

$60,365

reclassification from accumulated other comprehensive loss to retained earnings due to the change in the federal corporate tax rate.

In

August 2016,

the FASB issued ASU

No.

2016

15,

Statement of Cash Flows (Topic

230

), Classification of Certain Cash Receipts and Cash Payments

, which made

eight

targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. We adopted ASU

2016

retrospectively in the quarter ended

June

30,

2018.

The adoption did

not

have a significant impact on our financial statements.

In

January 2016,

the FASB issued ASU

No.

2016

01,

Financial Instruments—Overall: Recognition and Measurement of Financial Assets and Financial Liabilities

. The amendment changed the accounting for and financial statement presentation of equity investments, other than those accounted for under the equity method of accounting or those that result in consolidation of the investee. The amendment provides clarity on the measurement methodology to be used for the required disclosure of fair value of financial instruments measured at amortized cost on the balance sheet and clarifies that an entity should evaluate the need for a valuation allowance on deferred tax assets related to available-for-sale securities in combination with the entity’s other deferred tax assets, among other changes. We adopted ASU

2016

retrospectively in the quarter ended

June

30,

2018.

The adoption did

not

have a significant impact on our financial statements.

In

May 2014,

the FASB issued ASU

No.

2014

09,

which superseded the revenue recognition requirements in Accounting Standards Codification

605,

Revenue Recognition

. ASU

2014

is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. We adopted the guidance using the modified retrospective method to contracts that were

not

complete as of

April

2018.

The adoption did

not

have significant impact on our financial statements.

Information regarding all other applicable recently issued accounting standards, on which our position have

not

changed since our latest annual financial statements, are contained in the financial statements included in our Annual Report on Form

-K for the year ended

March

31,

2018.

New Accounting Standard

Not

Yet Adopted

February 2016,

the FASB issued ASU

No.

2016

02,

Lease Accounting

. ASU

2016

requires recognition of lease assets and lease liabilities on the balance sheet of lessees. In

July 2018,

the FASB issued ASU

2018

10,

Codification Improvements to Topic

842

(Leases)

, which provides narrow amendments to clarify how to apply certain aspects of the new lease standard. The guidance will be effective for fiscal years beginning after

December

15,

2018,

and interim periods within those fiscal years, which will be fiscal

2020

for us. In

July 2018,

the FASB issued ASU

No.

2018

11,

Leases Topic (

842

): Targeted Improvements.

This ASU provides companies an option to apply the transition provisions of the new lease standard at its adoption date instead of at the earliest comparative period presented in its financial statements. We expect to adopt the new lease guidance using the newly-approved transition method. We expect to recognize a liability and corresponding asset associated with in-scope operating and finance leases but are still in the process of determining those amounts and the processes required to account for leasing activity on an ongoing basis.