XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.24.0.1

CONTRACT ASSETS AND LIABILITIES | 3 Months Ended
--- | ---
Dec. 31, 2023
Contract Assets And Liabilities |
CONTRACT ASSETS AND LIABILITIES | NOTE 17 – CONTRACT ASSETS AND LIABILITIES Project contracts typically provide for a schedule of billings on percentage of completion of specific tasks inherent in the fulfillment of the Company’s performance obligation(s). The schedules for such billings usually do not precisely match the schedule on which costs are incurred. As a result, contract revenue recognized in the statements of operations can and usually does differ from amounts that can be billed to the customer at any point during the contract. Amounts by which cumulative contract revenue recognized on a contract as of a given date exceeds cumulative billings and unbilled receivables to the customer under the contract are reflected as a current asset in the balance sheets under the caption “Contract assets.” Amounts by which cumulative billings to the customer under a contract as of a given date exceed cumulative contract revenue recognized are reflected as a current liability in the balance sheets under the caption “Contract liabilities.” Conditional retainage represents the portion of the contract price withheld until the work is substantially complete for assurance of the Company’s obligations to complete the job. The following is a summary of the Company’s uncompleted contracts: SCHEDULE OF CONTRACT ASSETS AND LIABILITIES
|  | December 31, 2023 |  |  | December 31, 2022 |
Costs incurred on uncompleted contracts |  | $ | 11,900,894 |  |  | $ | 2,779,408 |
Estimated gross profit |  |  | 3,020,654 |  |  |  | 1,145,663 |
|  |  | 14,921,548 |  |  |  | 3,925,071 |
Applicable billings to date |  |  | (14,216,138 | ) |  |  | (4,811,777 | )
Net billings in excess of costs, Ending balance |  | $ | 705,410 |  |  | $ | (886,706 | )
|  | December 31, 2023 |  |  | September 30, 2023 |
Included in the accompanying balance sheet under the following captions |  |  |  |  |  |  |  |
Contract assets, net |  |  |  |  |  |  |  |
Costs in excess, net |  | $ | 1,593,142 |  |  | $ | 1,680,071 |
Conditional retainage, net |  |  | 100,993 |  |  |  | 59,130 |
Total contract assets, net |  | $ | 1,694,135 |  |  | $ | 1,739,201 |
Contract liabilities |  |  |  |  |  |  |  |
Billings in excess |  |  | (988,725 | ) |  |  | (980,319 | )
Total contract liabilities |  | $ | (988,725 | ) |  | $ | (980,319 | )
|  | December 31, 2022 |  |  | September 30, 2022 |
Included in the accompanying balance sheet under the following captions |  |  |  |  |  |
Contract assets, net |  |  |  |  |  |  |  |
Costs in excess, net |  | $ | 521,172 |  |  | $ | 781,819 |
Total contract assets, net |  | $ | 521,172 |  |  | $ | 781,819 |
Contract liabilities |  |  |  |  |  |  |  |
Billings in excess |  |  | (1,407,878 | ) |  |  | (369,890 | )
Total contract liabilities |  | $ | (1,407,878 | ) |  | $ | (369,890 | )
For the three months ended December 31, 2023 and 2022, the Company recognized revenue of $791,161 and $352,847, respectively, that was previously included in the beginning balance of contract liabilities.

X
- Definition Contract Assets and Liabilities [Text Block] + References No definition available. + Details
Name: | CETX_ContractAssetsAndLiabilitiesTextBlock
Namespace Prefix: | CETX_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | CETX_DisclosureContractAssetsAndLiabilitiesAbstract
Namespace Prefix: | CETX_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration