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Deferred Revenue | 12 Months Ended
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Dec. 31, 2017
Revenue Recognition and Deferred Revenue [Abstract] |
Deferred Revenue | NOTE 11 – DEFERRED REVENUE On July 18, 2016, upon the acquisition of Boxlight Group, the Company assumed a $761,622 future performance obligation for separately priced extended warranties sold by Boxlight Group based on preliminary measurement of the assets acquired and liabilities assumed. Deferred revenue consisted of the following as of December 31, 2017 and 2016:
|  | December 31, 2017 |  |  | December 31, 2016 |
Balance, beginning of year |  | $ | 767,726 |  |  | $ | - |
Assumed from Boxlight Group |  |  | - |  |  |  | 761,622 |
Additions |  |  | 1,070,528 |  |  |  | 259,744 |
Amortization |  |  | (535,537 | ) |  |  | (253,640 | )
Balance, ending of year |  |  | 1,302,717 |  |  |  | 767,726 |
Deferred revenue – short-term |  |  | 1,127,423 |  |  |  | 495,603 |
Deferred revenue – long-term |  | $ | 175,294 |  |  | $ | 272,123 |

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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 430 -URI http://asc.fasb.org/topic&trid=2122452 + Details
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- References No definition available. + Details
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