Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)

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Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)
9 Months Ended
Sep. 30, 2018
Policies  
Revenue Recognition Policy

Revenue recognition

We have analyzed our revenue transactions pursuant to ASU 2014-09, Revenue, and there was no material impact due to the transition from ASC 605 to ASU 2014-09. Our revenues are recognized when control of the promised services is transferred to a customer, in an amount that reflects the consideration that we expect to receive in exchange for those services. In discussion with management, we apply the following five steps to determine the appropriate amount of revenue to be recognized as we fulfill our obligations under each of our agreements:

 

a)            identify the contract with a customer;

b)            identify the performance obligations in the contract;

c)             determine the transaction price;

d)            allocate the transaction price to performance obligations in the contract; and

e)             recognize revenue as the performance obligation is satisfied.