Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Summary of Significant Accounting Policies: Revenue and Cost Recognition (Policies)

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Note 2 - Summary of Significant Accounting Policies: Revenue and Cost Recognition (Policies)
9 Months Ended
Sep. 30, 2013
Policies  
Revenue and Cost Recognition

Revenue and Cost Recognition

 

The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. The Company also receives shares in certain  companies for providing capital and  investment  services.  Therefore when this type of income is recognized, the Company records  it as management  consulting income based on the fair value of the shares received.