In the Financial Accounting Standards Board (“FASB”) issued accounting standard ASU - (Accounting Standards Codification Topic ), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard supersedes virtually all existing authoritative accounting guidance on revenue recognition and requires additional disclosures and greater use of estimates and judgments. We adopted the new standard in the quarter of fiscal We reviewed substantially all of our contracts and other revenue streams and determined that while the application of the new standard did have a material change in the amount of or timing for recognizing revenue, it did impact our financial statement disclosures related to revenue and related accounts. See Note for information on these disclosures.

 

In the FASB issued ASU -   It is intended to reduce diversity in the presentation of restricted cash and restricted cash equivalents in the statement.  The statement requires that restricted cash and restricted cash equivalents be included as components of total cash and cash equivalents as presented on the statement of cash flows. The Company had previously included restricted cash as a component of cash and equivalents as presented on the statement of cash flows. The new guidance was adopted by the Company effective under the retrospective adoption method, and prior year restricted cash has been reclassified to conform to current year presentation. See also Note