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EXCEL - IDEA: XBRL DOCUMENT - LICONT, CORP.Financial_Report.xls
10-K - 10-K - LICONT, CORP.v331935_10k.htm
XML - IDEA: XBRL DOCUMENT - LICONT, CORP.R2.htm
XML - IDEA: XBRL DOCUMENT - LICONT, CORP.R8.htm
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EX-23.1 - EXHIBIT 23.1 - LICONT, CORP.v331935_ex23-1.htm
EX-32.1 - EXHIBIT 32.1 - LICONT, CORP.v331935_ex32-1.htm
EX-31.1 - EXHIBIT 31.1 - LICONT, CORP.v331935_ex31-1.htm
v2.4.0.6
Recent Accounting Pronouncements
12 Months Ended
Sep. 30, 2012
New Accounting Pronouncements and Changes In Accounting Principles [Abstract]  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note 7 - Recent Accounting Pronouncements:

 

In May 2011, the FASB issued guidance to amend certain measurement and disclosure requirements related to fair value measurements to improve consistency with international reporting standards. This guidance is effective prospectively for public entities for interim and annual reporting periods beginning after December 15, 2011, with early adoption by public entities prohibited. The Company is currently evaluating this guidance, but does not expect its adoption will have a material effect on its consolidated financial statements.

 

In June 2011, the FASB issued new guidance on the presentation of comprehensive income that will require a company to present components of net income and other comprehensive income in one continuous statement or in two separate, but consecutive statements. There are no changes to the components that are recognized in net income or other comprehensive income under current GAAP. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011, with early adoption permitted.  The Company is currently evaluating this guidance, but does not expect its adoption will have a material effect on its consolidated financial statements.