Note 14 - Recently Issued Accounting Pronouncements

6 Months Ended

May 31, 2019

Notes to Financial Statements

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

14 ) Recently Issued Accounting Pronouncements

Accounting Pronouncements

Not

Yet Adopted

Leases

In

February 2016,

the FASB issued ASU

2016

-

02,

“Leases (Topic

842

),” which requires a lessee to recognize a right-of-use asset and a lease liability on its balance sheet for all leases with terms of

twelve

months or greater. This guidance is effective for fiscal years beginning after

December 15, 2018,

including interim periods within those years. The Company will adopt this guidance for fiscal

2020,

including interim periods within that reporting period. The Company has a moderate amount of leasing activity and is currently evaluating the impact of this guidance on its consolidated financial statements.