What is the company’s revenue recognition policy?

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The company’s revenue recognition policy is based on the principle that revenue should be recognized in the period in which it is earned. This means that when goods and services are exchanged, or payment is received, then revenue can be recognized. The company also follows GAAP (Generally Accepted Accounting Principles) regarding when to recognize certain kinds of revenues such as subscription-based products, multiple element arrangements, product returns and allowance for doubtful accounts. Additionally, all other criteria must be met such as determining fair value of the goods/services being exchanged and there must not be any significant uncertainty regarding customer acceptance or collection risk of payment received before recognizing any revenue.