Note 14 - Recently Issued Accounting Pronouncements
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9 Months Ended | ||
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Mar. 31, 2015
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Notes to Financial Statements | |||
Description of New Accounting Pronouncements Not yet Adopted [Text Block] |
On April 7, 2015 the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The new standard will classify debt issuance costs as a deduction from the debt liability. Currently these costs are classified as assets. There will be no effect on the consolidated statements of comprehensive income upon adoption of the ASU. The ASU is effective for the Company beginning in July 2016, and early adoption is permitted. The Company is currently evaluating the effect on the Company’s financial statements. |