Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments

v3.7.0.1
Fair Value of Financial Instruments
9 Months Ended
Jul. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS

 

The Company’s short term financial instruments consist of cash and cash equivalents, receivables, accounts payable, and notes payable. The Company adjusts the carrying value of financial assets and liabilities denominated in other currencies such as cash, receivables, accounts payable and the lines of credit using the appropriate exchange rates at the balance sheet date. The Company believes that the carrying values of these short term financial instruments approximate their estimated fair values. The carrying value of our long-term debt approximates its fair value based on the terms and conditions which we would currently obtain.