| Note 2. Significant Accounting Policies | This
summary of significant accounting policies of Eason Education Kingdom Holdings, Inc. is presented to assist in understanding the
Company's financial statements. The financial statements and notes are representations of the Company's management, which is responsible
for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United
States of America ("GAAP") and have been consistently applied in the preparation of the financial statements. Cash
and Cash Equivalents The
Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.
The Company currently has cash held in a trust account held by the Company's legal counsel. Fair
Value of Financial Instruments Effective
January 1, 2008, the Company adopted FASB ASC 820, Fair Value Measurements, which provides a framework for measuring fair value
under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an
exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants
on the measurement date. The standard also expands disclosures about instruments measured at fair value and establishes a fair
value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs
when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level
1 Quoted prices for identical assets and liabilities in active markets; Level
2 Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and
liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value
drivers are observable in active markets; and Level
3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are
unobservable. The
Company designates cash equivalents as Level 1. The total amount of the Company's investment classified as Level 3 is de minimis. The
fair value of the Company's debt as of June 30, 2016 and December 31, 2015, approximated fair value at those times. Fair
value of financial instruments: The carrying amounts of financial instruments, including cash, accounts payable, and accrued expenses
approximated fair value as of June 30, 2016 and December 31, 2015 because of the relative short term nature of these instruments. Revenue
Recognition The
Company recognizes revenue, in accordance with ASC 605, Revenue Recognition, which codified the Securities and Exchange Commission
Staff Accounting Bulletin (SAB) number 104, which states that revenue is generally recognized when it is realized and earned.
Specifically, the Company recognizes revenue when services are performed and projects are completed and accepted by the customer. Use
of Estimates The
preparation of financial statements in conformity with generally accepted accounting principles in the United States of America
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses
during the reporting periods. Management makes these estimates using the best information available at the time the estimates
are made; however actual results could differ materially from those estimates. Income
Taxes The
Company accounts for income taxes under an asset and liability approach. This process involves calculating the temporary and permanent
differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for
income tax purposes. The temporary differences result in deferred tax assets and liabilities, which would be recorded on the Company's
balance sheets in accordance with ASC 740, Income Taxes, which established financial accounting and reporting standards for the
effect of income taxes. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable
income and, to the extent the Company believes that recovery is not likely, the Company must establish a valuation allowance.
Changes in the Company's valuation allowance in a period are recorded through the income tax provision on the statements of operations. The
Company records interest and penalties arising from the underpayment of income taxes in the statement of income under general
and administrative expenses. As of June 30, 2016 and December 31, 2015, the Company had no accrued interest or penalties related
to uncertain tax positions. The company also did not have any uncertain tax benefits during these years. The tax years 2015, 2014
and 2013 remain open to examination. Earnings
(Loss) per Share The
Company is required to provide basic and dilutive earnings (loss) per common share information. The
basic net loss per common share is computed by dividing the net loss applicable to common stockholders by the weighted average
number of common shares outstanding. Diluted
net loss per common share is computed by dividing the net loss applicable to common stockholders, adjusted on an "as if converted"
basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For
the period ended June 30, 2016 and year ended December 31, 2015, potential dilutive securities had an anti-dilutive effect and
were not included in the calculation of diluted net loss per common share. Recent
Accounting Pronouncements Update
(ASU) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The
amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet
as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement
guidance for debt issuance costs are not affected by the amendments in this ASU. For
public business entities, the amendments are effective for financial statements issued for fiscal years beginning after December
15, 2015, and interim periods within those fiscal years. For all other entities, the amendments are effective for financial statements
issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15,
2016. Early
adoption of the amendments is permitted for financial statements that have not been previously issued. The
amendments should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be
adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply
with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for
the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively
adjusted, and the effect of the change on the financial statement line items (i.e., debt issuance cost asset and the debt liability). Update
(ASU) No. 2015-10, Technical Corrections and Improvements. The amendments cover a wide range of Topics in the FASB Accounting
Standards Codification (Codification). The amendments generally fall into one of the types of amendments listed below. 1.
Amendments Related to Differences between Original Guidance and the Codification. These amendments arose because of differences
between original guidance (e.g., FASB Statements, EITF Issues, and so forth) and the Codification. These amendments principally
carry forward pre-Codification guidance or subsequent amendments into the Codification. Many times, either the writing style or
phrasing of the original guidance did not directly translate into the Codification format and style. As a result, the meaning
of the guidance might have been unintentionally altered. Alternatively, amendments in this section may relate to guidance that
was codified without some text, references, or phrasing that, upon review, was deemed important to the guidance. 2.
Guidance Clarification and Reference Corrections. These amendments provide clarification through updating wording, correcting
references, or a combination of both. In most cases, the feedback suggested that, without these enhancements, guidance may be
misapplied or misinterpreted. 3.
Simplification. These amendments streamline or simplify the Codification through minor structural changes to headings or minor
editing of text to improve the usefulness and understandability of the Codification. 4.
Minor Improvements. These amendments improve the guidance and are not expected to have a significant effect on current accounting
practice or create a significant administrative cost to most entities. The
amendments represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements
to the Codification that are not expected to have a significant effect on current accounting practice or create a significant
administrative cost to most entities. In addition, some of the amendments will make the Codification easier to understand and
easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in
the Codification. Transition
guidance varies based on the amendments. The amendments that require transition guidance are effective for all entities for fiscal
years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including
adoption in an interim period. All other amendments will be effective upon issuance. From time
to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date.
If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have
a material impact on the Company's financial statements upon adoption. Management does not believe that any recently issued, but
not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements |
