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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Deferred Revenue by Segment and Changes in Unearned Revenue | Deferred revenues by segment is as follows:
|  | August 31, 2019 |  |  | August 31, 2018 |
Wholesale water and wastewater services |  | $ | — |  |  | $ | — |
Land development activities |  |  | 3,991,535 |  |  |  | 361,050 |
Oil and gas leases |  |  | 1,067,348 |  |  |  | 116,111 |
Balance, end of period |  | $ | 5,058,883 |  |  | $ | 477,161 |
Changes in unearned revenue were as follows:
|  | August 31, 2019 |  |  | August 31, 2018 |
Balance, beginning of period |  | $ | 477,161 |  |  | $ | 1,055,488 |
Cumulative effect of adoption of ASU 2014-09 |  |  | — |  |  |  | (1,055,488 | )
Billings |  |  | 24,943,231 |  |  |  | 2,667,200 |
Contract revenues recognized |  |  | (20,361,509 | ) |  |  | (2,190,039 | )
Balance, end of period |  | $ | 5,058,883 |  |  | $ | 477,161 |

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- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045 + Details
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