Note 2 - Recent Accounting Pronouncements	3 Months Ended
Dec. 28, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	( 2 ) Recent Accounting Pronouncements Current Adoptions In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2016 - 02 “Leases (Topic 842 ),” which requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for leases with terms greater than twelve months. We adopted the new lease standard in the current quarter using the modified retrospective method, which allows for the recognition of a cumulative effect adjustment to the beginning balance of retained earnings in the period of adoption without adjusting the comparative periods prior to adoption. We elected the package of practical expedients permitted under the new lease standard, which among other things, allowed us to carry forward historical lease classification. We also elected the short-term lease exemption such that the new lease standard was applied to leases greater than one year in duration. We did not elect the hindsight practical expedient to determine the lease term for existing leases. The adoption of the new lease standard had a material effect on our consolidated financial statements as it resulted in a $1.9 million increase in total assets and total liabilities on our consolidated balance sheet as of September 29, 2019. The new lease standard did not have a material impact on our consolidated earnings or cash flows. In May 2017, the FASB issued ASU No. 2017 - 09 “Compensation – Stock Compensation (Topic 718 ): Scope of Modification Accounting.” ASU No. 2017 - 09 was issued to clarify and reduce both (i) diversity in practice and (ii) cost and complexity when applying its guidance to changes in the terms and conditions of a share-based payment award. ASU No. 2017 - 09 became effective for us in the current quarter. The adoption of this update did not impact our consolidated financial statements. Future Adoptions In January 2017, the FASB issued ASU No. 2017 - 04 “Intangibles – Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment,” which simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. ASU No. 2017 - 04 will become effective for us in the first quarter of fiscal 2021 and early adoption is permitted. We are evaluating the impact that the adoption of this update will have on our consolidated financial statements.

(

) Recent Accounting Pronouncements

Current Adoptions

February 2016,

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

No.

2016

“Leases (Topic

842

),” which requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for leases with terms greater than

twelve

months. We adopted the new lease standard in the current quarter using the modified retrospective method, which allows for the recognition of a cumulative effect adjustment to the beginning balance of retained earnings in the period of adoption without adjusting the comparative periods prior to adoption. We elected the package of practical expedients permitted under the new lease standard, which among other things, allowed us to carry forward historical lease classification. We also elected the short-term lease exemption such that the new lease standard was applied to leases greater than

one

year in duration. We did

not

elect the hindsight practical expedient to determine the lease term for existing leases. The adoption of the new lease standard had a material effect on our consolidated financial statements as it resulted in a

$1.9

million increase in total assets and total liabilities on our consolidated balance sheet as of

September 29, 2019.

The new lease standard did

not

have a material impact on our consolidated earnings or cash flows.

May 2017,

the FASB issued ASU

No.

2017

“Compensation – Stock Compensation (Topic

718

): Scope of Modification Accounting.” ASU

No.

2017

was issued to clarify and reduce both (i) diversity in practice and (ii) cost and complexity when applying its guidance to changes in the terms and conditions of a share-based payment award. ASU

No.

2017

became effective for us in the current quarter. The adoption of this update did

not

impact our consolidated financial statements.

Future Adoptions

January 2017,

the FASB issued ASU

No.

2017

“Intangibles – Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment,” which simplifies the accounting for goodwill impairments by eliminating step

from the goodwill impairment test. ASU

No.

2017

will become effective for us in the

first

quarter of fiscal

2021

and early adoption is permitted. We are evaluating the impact that the adoption of this update will have on our consolidated financial statements.