Quarterly report pursuant to Section 13 or 15(d)

Recent Accounting Pronouncements

v3.21.2
Recent Accounting Pronouncements
 9 Months Ended
Sep. 30, 2021
Recent Accounting Pronouncements [Abstract]  
Recent Accounting Pronouncements NOTE 14 – RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments." The amendments in this update replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses. This ASU is intended to provide financial statement users with more decision-useful information about the expected credit losses and is effective for annual periods and interim periods for those annual periods beginning after December 15, 2022, which for us is the first quarter ending March 31, 2023. Entities may early adopt beginning after December 15, 2018. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements.