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DEFERRED COSTS AND DEFERRED REVENUE
 12 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
DEFERRED COSTS AND DEFERRED REVENUE

NOTE 9. DEFERRED COSTS AND DEFERRED REVENUE

 

As of June 30, 2025 and 2024, deferred costs totaling $48,971 and $170,781, respectively, consists of costs deferred under contracts not completed and recognized at a point in time ($48,971 and $135,057, respectively), and costs in excess of billings under contracts not completed and recognized over time ($0 and $35,724, respectively). As of June 30, 2025 and 2024, deferred revenue, totaling $52,576 and $72,788, respectively, consists of revenue deferred under contracts not completed and recognized at a point in time.

 

The following table shows the net activity of deferred cost and deferred revenue for the years ended June 30, 2025 and 2024:

   

   2025   2024 
   As of and for the Years ended June 30, 
   2025   2024 
         
Deferred costs - beginning of year  $170,781   $158,552 
Deferred cost recognized as cost of goods sold during year  $(170,781)   (158,552)
Costs incurred and not yet recognized as cost of goods sold  $48,971    170,781 
Deferred cost - end of year  $48,971   $170,781 
           
Deferred revenue - beginning of year  $72,788   $466,393 
Deferred revenue recognized as revenue during year  $(72,788)   (466,393)
Payments received and not yet recognized as revenue  $52,576    72,788 
Deferred revenue - end of year  $52,576   $72,788 

 

 

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS