v3.22.2.2
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Investments (Policies)
9 Months Ended
Jul. 31, 2022
Policies  
Investments

Investments

 

From time to time, the Company may invest in other Companies and acquire a minority interest.  The Company evaluates each investment in accordance with ASU 2016-01, which provides guidance on the classification and measurement of investments in equity securities.  The Company evaluates accounting for each investment under the equity or cost method depending on whether or not the Company has significant influence or control over the investee.  If an investment is considered an equity investment, when the Company has significant influence over the entity’s decision making and in such case the Company will record its share of earnings in the income statement.  An investment  may  be determined to be measured at cost, when the Company has no control or significant influence in decisions and in such case,  the Company will record its investment at cost and evaluate it for impairment at each period reported.  

 

If the Company were deemed to be in control or the primary beneficiary under variable interest consideration, the Company would consolidate the operations of the underlying investment.