Quarterly report pursuant to Section 13 or 15(d)

Recently Issued Accounting Standards

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Recently Issued Accounting Standards
 6 Months Ended
Sep. 30, 2012
Recently Issued Accounting Standards  
Recently Issued Accounting Standards

3.  Recently Issued Accounting Standards

 

In June 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-05, “Presentation of Comprehensive Income”, to increase the prominence of items reported in other comprehensive income (“OCI”) by eliminating the option to present components of OCI as part of the statement of changes in stockholders’ equity. The amendments included in this standard require that all nonowner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Under either method, an entity is required to present reclassification adjustments for items on the face of the financial statements. The Company adopted this updated guidance with no material impact on its consolidated financial position or results of operation.