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Recent Accounting Pronouncements
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3 Months Ended |
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Mar. 31, 2013
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| Recent Accounting Pronouncements | |
| Recent Accounting Pronouncements |
3. Recent Accounting Pronouncements
In June 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-05 for the presentation of comprehensive income thereby amending Accounting Standards Codification (ASC) 220, Comprehensive Income. ASU No. 2011-05 requires that all non-owner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU No. 2011-05 is effective in fiscal years beginning after December 15, 2011 and applied retrospectively. In February 2013, the FASB issued ASU No. 2013-02, which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. ASU No. 2013-02 was effective beginning after December 15, 2012 and applied prospectively. We adopted ASU No. 2011-05 on January 1, 2012 and have presented separate statements of comprehensive loss. We adopted ASU No. 2013-02 on January 1, 2013 on a prospective basis. The adoption had no effect on our financial position or results of operations. |