2.4.0.8106 - Disclosure - COSTS IN EXCESS OF BILLINGS/ BILLINGS IN EXCESS OF COSTStruefalsefalse1false falsefalsefrom-2012-10-01-to-2013-06-30.1650.0.0.0.0.0.0.0http://www.sec.gov/CIK0000314712duration2012-10-01T00:00:002013-06-30T00:00:001true 1us-gaap_ContractorsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0COSTS IN EXCESS OF BILLINGS/ BILLINGS IN EXCESS OF COSTS [Abstract]2false 2us-gaap_LongTermContractsOrProgramsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>NOTE 6 -COSTS IN EXCESS OF BILLINGS/ BILLINGS IN EXCESS OF COSTS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Information with respect to uncompleted contracts at June 30, 2013 and September 30, 2012 are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"><u>Costs in excess of billings:</u></td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">June 30, 2013<br /> (Unaudited)</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">September 30, 2012</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; WIDTH: 74%">Earnings on billings to date</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 10%">-</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 10%">2,059,919</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Less: Billings</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,584,265</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Total costs in excess of billings</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 475,654</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"><u>Billings in excess of costs:</u></td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">June 30, 2013<br /> (Unaudited)</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">September 30, 2012</td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; WIDTH: 74%">Earnings on billings to date</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 10%">269,058</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 10%">1,190,853</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Less: Billings</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (277,301</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,196,000</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Total (billings in excess of costs)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (8,243</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (5,147</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!-- Field: Page; Sequence: 11; Value: 2 --> <!--EndFragment--></div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for long-term contracts or programs.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3(c)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6471736&loc=d3e54651-109401 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 35 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6407836&loc=d3e58033-111643 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(d)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 405 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6471944&loc=d3e56414-109416 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 6 -Article 5 false0COSTS IN EXCESS OF BILLINGS/ BILLINGS IN EXCESS OF COSTSfalseCOSTS IN EXCESS OF BILLINGS/ BILLINGS IN EXCESS OF COSTSUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.boomerangsystems.com/role/CostsInExcessOfBillingsBillingsInExcessOfCosts12