Sales, Contract Assets and Contract Liabilities
|3 Months Ended|
Jun. 30, 2019
|Notes to Financial Statements|
|Sales, Contract Assets and Contract Liabilities||
The Company has analyzed its sales contracts under ASC 606 and has identified performance conditions that are not directly correlated with contractual payment terms with customer. As a result of the timing differences between customer payments and satisfaction of performance conditions, contractual assets and contractual liabilities have been recognized.
Contracts are tailored to meet each customer's unique requirements. However, the Company's performance obligations can generally be identified as:
For the three months ended June 30, 2019, the Company recognized sales revenues in proportion to performance obligations as noted below:
Changes in the Company's contract assets and liabilities for the periods are noted as below:
The entire disclosure for sales, contract assets and contract liabilities.
No definition available.