Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Nature of Business and Significant Accounting Policies: Impairment Assessment (Policies)

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Note 1 - Nature of Business and Significant Accounting Policies: Impairment Assessment (Policies)
9 Months Ended
May 31, 2017
Policies  
Impairment Assessment

Impairment Assessment

 

The Company evaluates intangible assets and long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. This includes but is not limited to significant adverse changes in business climate, market conditions, or other events that indicate an asset's carrying amount may not be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of each asset to the future undiscounted cash flows the asset is expected to generate. If the undiscounted cash flows used in the test for recoverability are less than the carrying amount of these assets, the carrying amount of such assets is reduced to fair value. The Company evaluates and tests the recoverability of its goodwill for impairment at least annually during its fourth quarter of each fiscal year or more often if and when circumstances indicate that goodwill may not be recoverable. There was no impairment of intangible assets, long-lived assets or goodwill during the three and nine months ended May 31, 2017 and 2016.