Revenue in Excess of Billings - Long Term
|12 Months Ended|
Jun. 30, 2017
|Revenue in Excess of Billings - Long Term||
NOTE 8 – REVENUE IN EXCESS OF BILLINGS – LONG TERM
Revenue in excess of billings, net consisted of the following:
Pursuant to revenue recognition for contract accounting, the Company has recorded revenue in excess of billings – long term for amounts billable after one year. The fair value of the payments to be received after one year has been estimated at $5,173,538. The fair value adjustment of $310,331 will be accreted in subsequent periods.
The entire disclosure for long-term contracts or programs.
Reference 1: http://www.xbrl.org/2003/role/presentationRef