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These excerpts taken from the MLAB 10-K filed Jun 29, 2009. Fair Value of Financial Instruments - The carrying amount of financial
instruments including cash and cash equivalents, accounts receivable,
short-term investments, accounts payable and accrued expenses approximated fair
value as of March 31, 2009 because of the relatively short maturity of these
instruments.
Fair Value of Financial Instruments - The carrying amount of financial
instruments including cash and cash equivalents, accounts receivable,
short-term investments, accounts payable and accrued expenses approximated fair
value as of March 31, 2009 because of the relatively short maturity of these
instruments.
Fair Value of Financial Instruments - The carrying amount of financial
instruments including cash and cash equivalents, accounts receivable,
short-term investments, accounts payable and accrued expenses approximated fair
value as of March 31, 2009 because of the relatively short maturity of these
instruments.
Fair Value of Financial Instruments - The carrying amount of financial instruments including cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued expenses approximated fair value as of March 31, 2009 because of the relatively short maturity of these instruments.
Fair Value of Financial Instruments - The carrying amount of financial instruments including cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued expenses approximated fair value as of March 31, 2009 because of the relatively short maturity of these instruments.
Fair Value of Financial Instruments - The carrying amount of financial instruments including cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued expenses approximated fair value as of March 31, 2009 because of the relatively short maturity of these instruments.
Fair Value of Financial Instruments - The carrying amount of financial instruments including cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued expenses approximated fair value as of March 31, 2009 because of the relatively short maturity of these instruments.
These excerpts taken from the MLAB 10-K filed Jun 30, 2008. Fair Value of Financial
Instruments - The
carrying amount of financial instruments including cash and cash equivalents,
accounts receivable, short-term investments, accounts payable and accrued
expenses approximated fair value as of March 31, 2008 because of the
relatively short maturity of these instruments.
Recently Issued Accounting Pronouncements - In September 2006, the FASB issued SFAS 157, Fair Value Measurement (SFAS 157). The standard provides guidance for using fair value to measure assets and liabilities. SFAS 157 clarifies the principle that fair value should be based on the assumptions market participants would use when pricing an asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. Under the standard, fair value measurements would be separately disclosed by level within the fair value hierarchy. The statement is effective for the Company beginning April 1, 2009; however, early adoption is permitted. The adoption of SFAS 157 has not had a material impact on the Company’s financial statements.
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MESA LABORATORIES, INC. NOTES TO FINANCIAL STATEMENTS (CONTINUED)
In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities,” (“SFAS No. 159”). SFAS 159 establishes presentation and disclosure requirements designed to facilitate comparisons between companies that choose different measurement attributes for similar types of assets and liabilities. Previously, accounting rules required different measurement attributes for different assets and liabilities that created artificial volatility in earnings. SFAS No. 159 helps to mitigate this type of accounting-induced volatility by enabling companies to report related assets and liabilities at fair value, which would likely reduce the need for companies to comply with detailed rules for hedge accounting. SFAS No. 159 is effective as of the beginning of an entity’s first fiscal year beginning after November 15, 2007, though early adoption is permitted. The adoption of SFAS No. 159 did not have an impact on the Company’s financial statements.
In March 2007, the FASB ratified Emerging Issues Task Force No. 06-11, (“EITF Issue No. 06-11”), “Accounting for Income Tax Benefits of Dividends on Share-Based Payment Awards.” EITF 06-11 requires companies to recognize the income tax benefit realized from dividends or dividend equivalents that are charged to retained earnings and paid to employees for nonvested equity-classified employee share-based payment awards as an increase to additional paid-in capital. EITF 06-11 is effective for fiscal years beginning after September 15, 2007. The Company does not expect EITF 06-11 will have a material impact on its financial position, results of operations or cash flows.
In December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51.” SFAS 160 establishes accounting and reporting standards for noncontrolling interests in subsidiaries. This statement requires the reporting of all noncontrolling interests as a separate component of stockholders’ equity, the reporting of consolidated net income (loss) as the amount attributable to both the parent and the noncontrolling interests and the separate disclosure of net income (loss) attributable to the parent and to the noncontrolling interests. In addition, this statement provides accounting and reporting guidance related to changes in noncontrolling ownership interests. Other than the reporting requirements described above which require retrospective application, the provisions of SFAS 160 are to be applied prospectively in the first annual reporting period beginning on or after December 15, 2008. The Company currently has no noncontrolling interests, thus the adoption of FAS 160 is expected to have no impact on our consolidated financial statements.
In December 2007, the FASB issued SFAS No. 141 (revised 2007), “Business Combinations,” (FAS 141R), which replaces FASB Statement No. 141. FAS 141R establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any noncontrolling interest in the acquiree and the goodwill acquired. The Statement also establishes disclosure requirements which will enable users to evaluate the nature and financial effects of the business combination. FAS 141R is effective as of the beginning of an entity’s fiscal year that begins after December 15, 2008, which will be our year beginning April 1, 2009. We are currently evaluating the potential impact, if any, of the adoption of FAS 141R on our consolidated financial statements.
33
MESA LABORATORIES, INC. NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Fair Value of Financial Instruments - The carrying amount of financial instruments including cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued expenses approximated fair value as of March 31, 2008 because of the relatively short maturity of these instruments.
Recently Issued Accounting Pronouncements - In
32
MESA LABORATORIES, INC. NOTES TO FINANCIAL STATEMENTS (CONTINUED)
In February 2007,
In March 2007, the FASB ratified Emerging Issues
In
In
33
MESA LABORATORIES, INC. NOTES TO FINANCIAL STATEMENTS (CONTINUED)
This excerpt taken from the MLAB 8-K filed Jul 20, 2006. Fair Value of Financial Instruments The carrying amounts of financial instruments including cash and cash equivalents, short-term investments, receivables, accounts payable and accrued expenses approximate fair value because of the relatively short maturity of these instruments. The fair value of long-term debt approximates fair value based on current market rates available for similar debt instruments. | EXCERPTS ON THIS PAGE:
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