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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition Policy (Policies)
3 Months Ended
Feb. 28, 2026
Policies  
Revenue Recognition Policy

Revenue Recognition

 

Revenue Recognition. The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers. The Company’s only revenue stream is residential and commercial home-inspection services performed by Liberty Home Inspection Services LLC. Performance obligation: a single performance obligation to deliver a written inspection report for an inspected property. Revenue is recognized at a point in time, upon delivery of the inspection report. Payment terms: amounts are typically due upon completion of the inspection and are collected by cash or check. Variable consideration: none - fees are fixed at booking; no rebates, discounts, or refunds. Contract assets / liabilities: the Company has no contract assets or contract liabilities. Revenue is presented net of any sales taxes collected on behalf of taxing authorities. For the three months ended February 28, 2026, LHIS generated revenue of $2,231 from home-inspection services.

 

For the three months ended February 28, 2026, LHIS generated revenue of $2,231 from home inspection services, which were recognized upon completion of each inspection.