Note 2 - Recent Accounting Pronouncements	6 Months Ended
Apr. 01, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	(2) Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“ FASB”) issued Accounting Standards Update (“ASU”) No. 2016 - 15 “Statement of Cash Flows Topic 230: Classification of Certain Cash Receipts and Cash Payments.” ASU No. 2016 - 15 addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows with the objective of reducing existing differences in the presentation of these items. The amendments in ASU No. 2016 - 15 are to be adopted retrospectively and will become effective for us in the first quarter of fiscal 2019. The adoption of this update is not expected to have a material impact on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016 - 09 “Compensation – Stock Compensation Topic 718: Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU No. 2016 - 09 will become effective for us in the first quarter of fiscal 2018. We are evaluating the future effects of the adoption of this update on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016 - 02 “Leases,” which will replace the guidance in Accounting Standards Codification (“ASC”) Topic 840. ASU No. 2016 - 02 was issued to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset. ASU No. 2016 - 02 will become effective for us in the first quarter of fiscal 2020. We are evaluating the potential effects of the adoption of this update on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015 - 11 “Simplifying the Measurement of Inventory,” which requires that an entity measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. ASU No. 2015 - 11 will become effective for us in the first quarter of fiscal 2018. We do not expect the adoption of this update will have a material effect on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014 - 09 “Revenue from Contracts with Customers,” which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014 - 09 provides that an entity recognize revenue when it transfers promised 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. This update 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. ASU No. 2014 - 09 allows for either full retrospective or modified retrospective adoption and will become effective for us in the first quarter of fiscal 2019. We are evaluating the potential effects of the adoption of this update on our consolidated financial statements and have not yet selected a transition method.

(2)

Recent Accounting Pronouncements

August

2016,

the Financial Accounting Standards Board (“

FASB”) issued Accounting Standards Update (“ASU”) No.

2016

“Statement of Cash Flows Topic

230:

Classification of Certain Cash Receipts and Cash Payments.” ASU No.

2016

addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows with the objective of reducing existing differences in the presentation of these items. The amendments in ASU No.

2016

are to be adopted retrospectively and will become effective for us in the

first

quarter of fiscal

2019.

The adoption of this update is not expected to have a material impact on our consolidated financial statements.

March

2016,

the FASB issued ASU No.

2016

“Compensation – Stock Compensation Topic

718:

Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU No.

2016

will become effective for us in the

first

quarter of fiscal

2018.

We are evaluating the future effects of the adoption of this update on our consolidated financial statements.

February

2016,

the FASB issued ASU No.

2016

“Leases,” which will replace the guidance in Accounting Standards Codification (“ASC”) Topic

840.

ASU No.

2016

was issued to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of

months) on the balance sheet as a lease liability and a right-of-use asset. ASU No.

2016

will become effective for us in the

first

quarter of fiscal

2020.

We are evaluating the potential effects of the adoption of this update on our consolidated financial statements.

July

2015,

the FASB issued ASU No.

2015

“Simplifying the Measurement of Inventory,” which requires that an entity measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. ASU No.

2015

will become effective for us in the

first

quarter of fiscal

2018.

We do not expect the adoption of this update will have a material effect on our consolidated financial statements.

May

2014,

the FASB issued ASU No.

2014

“Revenue from Contracts with Customers,” which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No.

2014

provides that an entity recognize revenue when it transfers promised 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. This update 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. ASU No.

2014

allows for either full retrospective or modified retrospective adoption and will become effective for us in the

first

quarter of fiscal

2019.

We are evaluating the potential effects of the adoption of this update on our consolidated financial statements and have not yet selected a transition method.