Annual report pursuant to Section 13 and 15(d)

Note 2 - Significant Accounting Policies: Revenue Recognition (Policies)

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Note 2 - Significant Accounting Policies: Revenue Recognition (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Revenue Recognition

Revenue Recognition

 

The Company generates revenue from services. Revenue is recognized in accordance with Accounting Standards Codification subtopic 605-10, Revenue Recognition (“ASC 605-10”) which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the services delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related revenue are recorded. The Company defers any revenue for which the  services has not been performed or is subject to refund until such time that the Company and the customer jointly determine that the services has been performed or no refund will be required.