New Accounting Pronouncements

6 Months Ended

Apr. 30, 2014

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements

New Accounting Pronouncements

In March 2014, the Financial Accounting Standards Board (“FASB”) issued amended guidance on various glossary terms, covering a wide range of topics in the accounting standards codification. The amendments represent changes to clarify the master glossary, consolidate multiple instances of the same term into a single definition, or make minor improvements to the master glossary that are not expected to result in substantive changes to the application of existing guidance. The Company adopted this guidance, which did not impact its condensed consolidated financial statements.

In April 2014, the FASB issued Accounting Standards Update ("ASU") 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360), which provides amended guidance on the presentation of financial statements and reporting discontinued operations and disclosures of disposals of components of an entity within property, plant and equipment. ASU 2014-08 amends the definition of a discontinued operation and requires entities to disclose additional information about disposal transactions that do not meet the discontinued-operations criteria. The effective date of ASU 2014-08 is for disposals that occur in annual periods (and interim periods therein) beginning on or after December 15, 2014, with early adoption permitted. The Company is currently evaluating the impact, if any, that this amended guidance may have on its financial statements and related disclosures.