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Summary of Significant Accounting Policies
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6 Months Ended |
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Jul. 31, 2013
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| Summary of Significant Accounting Policies | |
| Summary of Significant Accounting Policies |
2. Summary of Significant Accounting Policies
There have been no material changes to the Company’s significant accounting policies as compared to those described in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2013.
Concentration of Credit Risk
For the three and six months ended July 31, 2012 and 2013, the Company had no customers that accounted for more than 10% of the Company’s total revenue.
As of January 31 and July 31, 2013, the Company had no customers that accounted for more than 10% of the Company’s total accounts receivable.
Recently Issued Accounting Standards
In July 2013, the FASB issued an update to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward exists. The guidance requires an entity to present an unrecognized tax benefit in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, except for when a net operating loss carryforward is not available as of the reporting date to settle taxes that would result from the disallowance of the tax position or when the entity does not intend to use the deferred tax asset for purposes of reducing the net operating loss carryforward. The guidance is effective for fiscal years beginning after December 15, 2013 and for interim periods within that fiscal year. The Company does not expect the adoption of this guidance to have a material effect on the consolidated balance sheets. |