Deferred revenue for the years ended September 30, 2012 consisted
of $132,868 for products yet delivered and $35,931 for accrued software support. Deferred revenue for the years ended September
30, 2011 was zero.
The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.
-Name Statement of Financial Accounting Concepts (CON)
-Paragraph 83, 84
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.