COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Sep. 30, 2018

Health Care Organizations [Abstract]

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

3. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Asset, “Costs in excess of billings”, represents revenues recognized in excess of amounts billed on contracts in progress. The Liability, “Billings in excess of costs”, represents billings in excess of revenues recognized on contracts in progress. At September 30, 2018 and September 30, 2017, the costs in excess of billings balance were $52,439 and $0, and the billings in excess of costs balance were $0 and $0, respectively.

The following is a summary of the costs and estimated earnings on contracts as of September 30, 2018. There were no open percentage-of-completion method contracts as of September 30, 2017.

	Year ended September 30, 2018
Costs incurred on contracts	$	292,990
Estimated earnings		114,471
		407,461

Less billings to date		(355,022)
Total		52,439

Costs and estimated earnings in excess of billings		52,439
Billings in excess of costs and estimated earnings		—
Total	$	52,439

All contracts open as of September 30, 2018 are expected to be completed in the fiscal year ending September 30, 2019.