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2. Basis of Presentation and Significant Accounting Policies: Revenue Recognition Policy (Policies)
3 Months Ended
Jul. 31, 2012
Revenue Recognition Policy:  
Revenue Recognition Policy

Revenue Recognition Policy

 

The Company follows the provisions of FASB ASC 985-605 (“Software Revenue Recognition”), as amended. ASC 985-605 delineates the accounting practices for software products, maintenance, support services, and professional services revenue. Under ASC 985-605, the Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the fee is determinable, and collection of the resulting receivable is probable. The Company recognizes service and maintenance revenues on a straight-line basis over the service contract period. Revenues for data subscription services are recognized on a monthly basis upon the execution of an agreement and the customer’s receipt of the data. The Company performs certain professional services for customers on a subscription basis that have stand-alone value. Such subscription-based professional services are recognized over the subscription period.

 

The Company recognizes license fee revenues on a straight-line basis over the term of the license agreement, which typically does not exceed five years.

 

The Company recognizes initial set-up fee revenues and associated costs on a straight-line basis over the estimated life of the customer relationship period, typically five years.