RECENT ACCOUNTING STANDARDS |
6 Months Ended |
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Jun. 30, 2023 | |
| Accounting Changes and Error Corrections [Abstract] | |
| RECENT ACCOUNTING STANDARDS |
18. RECENT ACCOUNTING STANDARDS
Accounting Pronouncements Adopted
The FASB issued new guidance under ASC Topic 326, Financial Instruments Credit Losses. The guidance changes the allowance on accounts receivable from an incurred method to an expected method. The Company adopted ASC Topic 326 on January 1, 2023 and it had no material effect on the condensed consolidated financial statements.
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- References No definition available.
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- Definition The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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