Revenue recognition change
beta
Filing comparison
HiTek Global Inc. changed its revenue recognition disclosure
Based on contracts signed with customers, the Company has a single performance obligation and it recognizes revenue when ownership of such hardware and equipment is transferred to the customers.
Evidence
- New language
- Based on contracts signed with customers, the Company has a single performance obligation and it recognizes revenue when ownership of such hardware and equipment is transferred to the customers., The entire tax service is accounted for as a single performance obligation.
- Prior filed
- 2025-04-25
- Prior form
- 20-F
- Similarity
- 0.506
- Source
- revenue recognition note comparison
- Threshold
- 0.6
- Why
- The revenue recognition policy disclosure changed materially from the previous comparable filing.
Language present now, absent from the prior filing:
- Based on contracts signed with customers, the Company has a single performance obligation and it recognizes revenue when ownership of such hardware and equipment is transferred to the customers.
- The entire tax service is accounted for as a single performance obligation.