Quarterly report pursuant to Section 13 or 15(d)

ACCOUNTING STANDARDS UPDATES

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ACCOUNTING STANDARDS UPDATES
9 Months Ended
Sep. 30, 2013
Accounting Changes and Error Corrections [Abstract]  
ACCOUNTING STANDARDS UPDATES

NOTE 10 – ACCOUNTING STANDARDS UPDATES

 

ASU 2013-02 “Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to separately present the amount reclassified out of accumulated other comprehensive income (“AOCI”) for each component of AOCI and to disclose, for each affected line item in the income statement, the amount of AOCI that has been reclassified into that line item. If the reclassification doesn’t go directly to an income statement line it is acceptable to cross reference that amount to another footnote that provides the required disclosure. ASU 2013-02 became effective for the Company on January 1, 2013 and did not have a significant impact on the Company’s financial statements.