REVENUE RECOGNITION - Summary of Adoption of ASC 606 had Impact on Statement of Income (Details) - USD ($) |
3 Months Ended | |
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Mar. 31, 2018 |
Mar. 31, 2017 |
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Revenue Initial Application Period Cumulative Effect Transition [Line Items] | ||
Product leases and royalties | $ 4,360,356 | $ 3,473,841 |
Selling, general and administrative | 2,585,070 | $ 2,086,169 |
ASC 606 | Balance Without the Adoption of ASC 606 | ||
Revenue Initial Application Period Cumulative Effect Transition [Line Items] | ||
Product leases and royalties | 4,153,659 | |
Selling, general and administrative | 2,378,373 | |
ASC 606 | Impact of the Adoption | ||
Revenue Initial Application Period Cumulative Effect Transition [Line Items] | ||
Product leases and royalties | 206,697 | |
Selling, general and administrative | $ 206,697 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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