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Note 3 Summary of Significant Accounting Policies: (p) Revenue Recognition (Policies)
6 Months Ended
Sep. 30, 2012
(p) Revenue Recognition:  
(p) Revenue Recognition

(p)        Revenue recognition

 

Revenue represents the invoiced value of goods sold or services provided.  Revenue is recognized when all the following criteria are met:

 

(i)Persuasive evidence of an arrangement exists.

(ii)Services had been rendered.

(iii)The seller’s price to the buyer is fixed or determinable, and

(iv)Collectivity is reasonably assured.

 

Revenue from sales is recognized when food and beverage products are sold. Franchise fee income on the annual fee for sublicensing of the brand name and trademark “Caffe Kenon” and the 10% management fee on eligible monthly net income of subfranchiee are recognized after granting the non-exclusive rights and all contractual obligations are performed and report of net income from subfranchisee respectively.