TSR (TSRI) 10-K 30 Jul 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	May. 31, 2015	Jun. 30, 2015	Nov. 28, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	TSR INC
Entity Central Index Key	98,338
Amendment Flag	false
Current Fiscal Year End Date	--05-31
Document Type	10-K
Document Period End Date	May 31, 2015
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 3,467,000
Entity Common Stock, Shares Outstanding		1,962,062

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	May. 31, 2015	May. 31, 2014
Current Assets:
Cash and cash equivalents	$ 3,669,790	$ 2,841,967
Certificates of deposit and marketable securities	1,271,568	1,514,856
Accounts receivable:
Trade, net of allowance for doubtful accounts of $193,000 in 2015 and 2014	8,754,784	8,790,338
Other	2,458	9,330
Accounts receivable, net	8,757,242	8,799,668
Prepaid expenses	$ 116,096	74,188
Prepaid and recoverable income taxes		32,159
Deferred income taxes	$ 120,000	86,000
Total Current Assets	13,934,696	13,348,838
Equipment and leasehold improvements, at cost:
Equipment	102,833	88,747
Furniture and fixtures	111,107	111,107
Automobiles	19,665	19,665
Leasehold improvements	60,058	60,058
Equipment and leasehold improvements, at cost, Gross	293,663	279,577
Less accumulated depreciation and amortization.	254,732	245,482
Equipment and leasehold improvements, at cost, Net	38,931	34,095
Other assets	49,653	49,653
Deferred income taxes	28,000	130,000
Total Assets	14,051,280	13,562,586
Current Liabilities:
Accounts and other payables	1,129,105	929,404
Accrued expenses and other current liabilities:
Salaries, wages and commissions	2,237,628	2,124,671
Other	146,214	96,487
Accrued expenses and other current liabilities, net	2,383,842	$ 2,221,158
Income taxes payable	3,877
Advances from customers	1,431,522	$ 1,491,946
Total Liabilities	$ 4,948,346	$ 4,642,508
Commitments and Contingencies
Equity:
Preferred stock, $1.00 par value, authorized 500,000 shares; none issued
Common stock, $0.01 par value, authorized 12,500,000 shares; issued 3,114,163 shares; 1,962,062 outstanding	$ 31,142	$ 31,142
Additional paid-in capital	5,102,868	5,102,868
Retained earnings	17,412,658	17,219,947
Shareholder's equity before treasury stock	22,546,668	22,353,957
Less: treasury stock, 1,152,101 shares, at cost	13,514,003	13,514,003
Total TSR, Inc. Equity	9,032,665	8,839,954
Noncontrolling Interest	70,269	80,124
Total Equity	9,102,934	8,920,078
Total Liabilities and Equity	$ 14,051,280	$ 13,562,586

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	May. 31, 2015	May. 31, 2014
Balance Sheets [Abstract]
Allowance for doubtful accounts related to accounts receivable	$ 193,000	$ 193,000
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	12,500,000	12,500,000
Common stock, shares issued	3,114,163	3,114,163
Common stock, shares outstanding	1,962,062	1,962,062
Treasury stock, shares	1,152,101	1,152,101

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Statements Of Operations [Abstract]
Revenue, net	$ 57,402,896	$ 49,529,867
Cost of sales.	48,087,428	41,251,638
Selling, general and administrative expenses	8,883,003	8,253,061
Cost and expenses, total	56,970,431	49,504,699
Income from operations	432,465	25,168
Other income:
Interest and dividend income	6,114	6,288
Unrealized gain from marketable securities, net	5,712	2,432
Other income total	11,826	8,720
Income before income taxes	444,291	33,888
Provision for income taxes	152,000	17,000
Consolidated net income	292,291	16,888
Less: Net income attributable to noncontrolling interest	99,580	102,824
Net income (loss) attributable to TSR, Inc.	$ 192,711	$ (85,936)
Net income (loss) per TSR, Inc. common share	$ 0.10	$ (0.04)
Weighted average number of common shares outstanding	1,962,062	1,962,062

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($)	Total	Common Stock	Additional paid-in capital	Retained earnings	Treasury stock	TSR, Inc. equity	Non-controlling Interest
Beginning Balance at May. 31, 2013	$ 8,929,337	$ 31,142	$ 5,102,868	$ 17,305,883	$ (13,514,003)	$ 8,925,890	$ 3,447
Beginning Balance, shares at May. 31, 2013		3,114,163
Net income attributable to noncontrolling interest	102,824						102,824
Distribution to noncontrolling interest	(26,147)						$ (26,147)
Net income (loss) attributable to TSR, Inc.	(85,936)			$ (85,936)		$ (85,936)
Balance at May. 31, 2014	8,920,078	$ 31,142	$ 5,102,868	$ 17,219,947	$ (13,514,003)	$ 8,839,954	$ 80,124
Balance, shares at May. 31, 2014		3,114,163
Net income attributable to noncontrolling interest	99,580						99,580
Distribution to noncontrolling interest	(109,435)						$ (109,435)
Net income (loss) attributable to TSR, Inc.	192,711			$ 192,711		$ 192,711
Balance at May. 31, 2015	$ 9,102,934	$ 31,142	$ 5,102,868	$ 17,412,658	$ (13,514,003)	$ 9,032,665	$ 70,269
Balance, shares at May. 31, 2015		3,114,163

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Cash flows from operating activities:
Consolidated net income	$ 292,291	$ 16,888
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	20,428	15,723
Unrealized gain from marketable securities, net	(5,712)	(2,432)
Deferred income taxes	68,000	16,000
Changes in operating assets and liabilities:
Accounts receivable-trade	35,554	355,945
Other receivables	6,872	(4,314)
Prepaid expenses	(41,908)	(3,262)
Prepaid and recoverable income taxes	32,159	176,420
Accounts and other payables and accrued expenses and other current liabilities	362,385	$ (90,672)
Income taxes payable	3,877
Advances from customers	(60,424)	$ 43,691
Net cash provided by operating activities	713,522	523,987
Cash flows from investing activities:
Proceeds from maturities of marketable securities	2,487,000	2,983,000
Purchases of marketable securities	(2,238,000)	(2,487,000)
Purchases of equipment and leasehold improvements	(25,264)	(33,034)
Net cash provided by investing activities	223,736	462,966
Cash flows from financing activities:
Distributions to noncontrolling interest	(109,435)	(26,147)
Net cash used in financing activities	(109,435)	(26,147)
Net increase in cash and cash equivalents	827,823	960,806
Cash and cash equivalents at beginning of year	2,841,967	1,881,161
Cash and cash equivalents at end of year	3,669,790	2,841,967
Supplemental disclosures of cash flow data:
Income taxes paid	$ 49,000	$ 27,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	May. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies (a) Business, Nature of Operations and Customer Concentrations TSR, Inc. and Subsidiaries (the “Company”) are primarily engaged in providing contract computer programming services to commercial customers located primarily in the Metropolitan New York area. The Company provides its customers with technical computer personnel to supplement their in-house information technology capabilities. In fiscal 2015, two customers each accounted for more than 10% of the Company’s consolidated revenue, constituting a combined 34.9%. The largest of these constituted 19.2% of consolidated revenue. In fiscal 2014, three customers each accounted for more than 10% of the Company’s consolidated revenue, constituting a combined 42.5%. The largest of these constituted 16.6% of consolidated revenue. The accounts receivable balances associated with the Company’s largest customers were $2,109,000 for two customers at May 31, 2015 and $3,122,000 for three customers at May 31, 2014. The Company operates in one business segment, computer programming services. (b) Principles of Consolidation The consolidated financial statements include the accounts of TSR, Inc. and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. (c) Revenue Recognition The Company’s contract computer programming services are generally provided under time and materials arrangements with its customers. Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition”, when persuasive evidence of an arrangement exists, the services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. These conditions occur when a customer agreement is effected and the consultant performs the authorized services. Revenue is recorded net of all discounts and processing fees. Advances from customers represent amounts received from customers prior to the Company’s completion of the related services and credit balances from overpayments. Reimbursements received by the Company for out-of-pocket expenses are characterized as revenue. (d) Cash and Cash Equivalents The Company considers short-term highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents were comprised of the following as of May 31, 2015 and 2014: 2015 2014 Cash in banks $ 2,851,802 $ 2,279,148 Money market funds 817,988 562,819 $ 3,669,790 $ 2,841,967 (e) Certificates of Deposit and Marketable Securities The Company has characterized its investments in marketable securities, based on the priority of the inputs used to value the investments, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), and lowest priority to unobservable inputs (Level 3). If the inputs used to measure the investments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Investments recorded in the accompanying consolidated balance sheets are categorized based on the inputs to valuation techniques as follows: Level These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access. Level These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets. Level These are investments where values are derived from techniques in which one or more significant inputs are unobservable. The following are the major categories of assets measured at fair value on a recurring basis as of May 31, 2015 and 2014 using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3): May 31, 2015 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,244,000 $ - $ 1,244,000 Equity securities 27,568 - - 27,568 $ 27,568 $ 1,244,000 $ - $ 1,271,568 May 31, 2014 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,493,000 $ - $ 1,493,000 Equity securities 21,856 - - 21,856 $ 21,856 $ 1,493,000 $ - $ 1,514,856 Based upon the Company’s intent and ability to hold its certificates of deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. The Company’s equity securities are classified as trading securities, which are carried at fair value, as determined by quoted market prices, which is a Level 1 input, as established by the fair value hierarchy. The related unrealized gains and losses are included in earnings. The Company’s marketable securities at May 31, 2015 and 2014 are summarized as follows: Amortized Gross Gross Recorded Current 2015: Certificates of deposit $ 1,244,000 $ - $ - $ 1,244,000 Equity securities 16,866 10,702 - 27,568 $ 1,260,866 $ 10,702 $ - $ 1,271,568 Current 2014: Certificates of deposit $ 1,493,000 $ - $ - $ 1,493,000 Equity securities 16,866 4,990 - 21,856 $ 1,509,866 $ 4,990 $ - $ 1,514,856 The Company’s investments in marketable securities consist primarily of investments in certificates of deposit and equity securities. Market values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market values. (f) Accounts Receivable and Credit Policies: The carrying amount of accounts receivable is reduced by a valuation allowance that reflects management’s best estimate of the amounts that will not be collected. In addition to reviewing delinquent accounts receivable, management considers many factors in estimating its general allowance, including historical data, experience, customer types, creditworthiness and economic trends. From time to time, management may adjust its assumptions for anticipated changes in any of those or other factors expected to affect collectability. (g) Depreciation and Amortization Depreciation and amortization of equipment and leasehold improvements has been computed using the straight-line method over the following useful lives: Equipment 3 years Furniture and fixtures 3 years Automobiles 3 years Leasehold improvements Lesser of lease term or useful life (h) Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed by dividing income (loss) available to common stockholders of TSR, Inc. by the weighted average number of common shares outstanding. The Company had no stock options or other common stock equivalents outstanding during the fiscal years ended May 31, 2015 or 2014. (i) Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities at enacted rates expected to be in effect when such amounts are realized or settled. The effect of enacted tax law or rate changes is reflected in income in the period of enactment. (j) Fair Value of Financial Instruments ASC Topic 825, “Financial Instruments”, requires disclosure of the fair value of certain financial instruments. For cash and cash equivalents, accounts receivable, accounts and other payables, accrued liabilities and advances from customers, the amounts presented in the consolidated financial statements approximate fair value because of the short-term maturities of these instruments. (k) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted 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 revenue and expenses during the reporting period. Such estimates include, but are not limited to provisions for doubtful accounts receivable and assessments of the recoverability of the Company’s deferred tax assets. Actual results could differ from those estimates. (l) Long-Lived Assets The Company reviews its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the expected cash flows undiscounted and without interest, is less than the carrying amount of the asset, an impairment loss is recognized for the amount by which the carrying amount of the asset exceeds its fair value. (m) Impact of New Accounting Standards In May 2014, the FASB issued an update to ASC 606, Revenue from Contracts with Customers. This update to ASC 606 provides a five-step process to determine when and how revenue is recognized. The core principle of the guidance is that a Company should recognize revenue upon transfer of promised goods or services to customers in an amount that reflects the expected consideration to be received in exchange for those goods or services. This update to ASC 606 will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively, and improving guidance for multiple-element arrangements. This update to ASC 606 is effective for the Company beginning in fiscal 2017. The Company is currently evaluating the impact of this update on its consolidated financial statements. (n) Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, certificates of deposit, marketable securities and accounts receivable. The Company places its cash equivalents with high-credit quality financial institutions and brokerage houses. The Company has substantially all of its cash in four bank accounts. At times, such amounts may exceed Federally insured limits. The Company holds its marketable securities in brokerage accounts. The Company has not experienced losses in any such accounts. The Company’s accounts receivable represent approximately 53 accounts with open balances of which, the two largest customers, as a percentage of revenue, consisted of 24.1% of the net accounts receivable balance at May 31, 2015.

Income Taxes

Income Taxes	12 Months Ended
	May. 31, 2015
Income Taxes [Abstract]
Income Taxes	(2) Income Taxes A reconciliation of the provision for income taxes computed at the Federal statutory rates for fiscal 2015 and 2014 to the reported amounts is as follows: 2015 % 2014 % Amounts at statutory Federal tax rate $ 151,000 34.0 % $ 11,500 34.0 % Noncontrolling interest (34,000 ) (7.6 ) (35,000 ) (103.3 ) State and local taxes, net of Federal income tax effect 13,000 2.9 22,000 64.9 Non-deductible expenses and other 22,000 4.9 18,500 54.6 $ 152,000 34.2 % $ 17,000 50.2 % The components of the provision for income taxes are as follows: Federal State Total 2015: Current $ 32,000 $ 52,000 $ 84,000 Deferred 100,000 (32,000 ) 68,000 $ 132,000 $ 20,000 $ 152,000 2014: Current $ (29,000 ) $ 30,000 $ 1,000 Deferred 13,000 3,000 16,000 $ (16,000 ) $ 33,000 $ 17,000 The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets at May 31, 2015 and 2014 are as follows: 2015 2014 Allowance for doubtful accounts receivable $ 86,000 $ 86,000 Accrued compensation and other accrued expenses 34,000 - Net operating loss carryforward 25,000 103,000 Equipment and leasehold improvement depreciation and amortization 1,000 11,000 Acquired client relationships 5,000 16,000 Unrealized gain (3,000 ) - Total deferred income tax assets $ 148,000 $ 216,000 The Company believes that it is more likely than not that it will realize the benefits of its deferred tax assets based primarily on the Company’s history of and projections for taxable income in the future. The Company has no unrecognized tax benefits at May 31, 2015 and 2014. The Company’s Federal and state income tax returns prior to fiscal year 2012 are closed. The Company recognizes interest and penalties associated with tax matters as selling, general and administrative expenses and includes accrued interest and penalties with accrued and other liabilities in the consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	May. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	3) Commitments and Contingencies A summary of noncancellable long-term operating lease commitments for facilities as of May 31, 2015 follows: Fiscal Year Amount 2016 $ 324,000 2017 284,000 2018 167,000 2019 107,000 2020 - Total $ 882,000 Total rent expenses under all lease agreements amounted to $390,000 and $322,000 in fiscal 2015 and 2014, respectively. The Company has entered into employment agreements with two of its officers expiring through 2020. The total remaining payments under these agreements is $1,775,000 at May 31, 2015. From time to time, the Company is party to various lawsuits, some involving substantial amounts. Management is not aware of any lawsuits that would have a material adverse impact on the consolidated financial position of the Company.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	May. 31, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	(4) Stockholders’ Equity During the years ended May 31, 2015 and 2014, the Company did not purchase any of its common stock on the open market under the previously announced plan. As of May 31, 2015, 56,318 shares remain available for purchase under the plan.

Summary of Significant Accoun11

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	May. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Business, Nature of Operations and Customer Concentrations	(a) Business, Nature of Operations and Customer Concentrations TSR, Inc. and Subsidiaries (the “Company”) are primarily engaged in providing contract computer programming services to commercial customers located primarily in the Metropolitan New York area. The Company provides its customers with technical computer personnel to supplement their in-house information technology capabilities. In fiscal 2015, two customers each accounted for more than 10% of the Company’s consolidated revenue, constituting a combined 34.9%. The largest of these constituted 19.2% of consolidated revenue. In fiscal 2014, three customers each accounted for more than 10% of the Company’s consolidated revenue, constituting a combined 42.5%. The largest of these constituted 16.6% of consolidated revenue. The accounts receivable balances associated with the Company’s largest customers were $2,109,000 for two customers at May 31, 2015 and $3,122,000 for three customers at May 31, 2014. The Company operates in one business segment, computer programming services.
Principles of Consolidation	(b) Principles of Consolidation The consolidated financial statements include the accounts of TSR, Inc. and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Revenue Recognition	(c) Revenue Recognition The Company’s contract computer programming services are generally provided under time and materials arrangements with its customers. Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition”, when persuasive evidence of an arrangement exists, the services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. These conditions occur when a customer agreement is effected and the consultant performs the authorized services. Revenue is recorded net of all discounts and processing fees. Advances from customers represent amounts received from customers prior to the Company’s completion of the related services and credit balances from overpayments. Reimbursements received by the Company for out-of-pocket expenses are characterized as revenue.
Cash and Cash Equivalents	(d) Cash and Cash Equivalents The Company considers short-term highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents were comprised of the following as of May 31, 2015 and 2014: 2015 2014 Cash in banks $ 2,851,802 $ 2,279,148 Money market funds 817,988 562,819 $ 3,669,790 $ 2,841,967
Certificates of Deposit and Marketable Securities	(e) Certificates of Deposit and Marketable Securities The Company has characterized its investments in marketable securities, based on the priority of the inputs used to value the investments, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), and lowest priority to unobservable inputs (Level 3). If the inputs used to measure the investments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Investments recorded in the accompanying consolidated balance sheets are categorized based on the inputs to valuation techniques as follows: Level These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access. Level These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets. Level These are investments where values are derived from techniques in which one or more significant inputs are unobservable. The following are the major categories of assets measured at fair value on a recurring basis as of May 31, 2015 and 2014 using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3): May 31, 2015 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,244,000 $ - $ 1,244,000 Equity securities 27,568 - - 27,568 $ 27,568 $ 1,244,000 $ - $ 1,271,568 May 31, 2014 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,493,000 $ - $ 1,493,000 Equity securities 21,856 - - 21,856 $ 21,856 $ 1,493,000 $ - $ 1,514,856 Based upon the Company’s intent and ability to hold its certificates of deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. The Company’s equity securities are classified as trading securities, which are carried at fair value, as determined by quoted market prices, which is a Level 1 input, as established by the fair value hierarchy. The related unrealized gains and losses are included in earnings. The Company’s marketable securities at May 31, 2015 and 2014 are summarized as follows: Amortized Gross Gross Recorded Current 2015: Certificates of deposit $ 1,244,000 $ - $ - $ 1,244,000 Equity securities 16,866 10,702 - 27,568 $ 1,260,866 $ 10,702 $ - $ 1,271,568 Current 2014: Certificates of deposit $ 1,493,000 $ - $ - $ 1,493,000 Equity securities 16,866 4,990 - 21,856 $ 1,509,866 $ 4,990 $ - $ 1,514,856 The Company’s investments in marketable securities consist primarily of investments in certificates of deposit and equity securities. Market values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market values.
Accounts Receivable and Credit Policies	(f) Accounts Receivable and Credit Policies: The carrying amount of accounts receivable is reduced by a valuation allowance that reflects management’s best estimate of the amounts that will not be collected. In addition to reviewing delinquent accounts receivable, management considers many factors in estimating its general allowance, including historical data, experience, customer types, creditworthiness and economic trends. From time to time, management may adjust its assumptions for anticipated changes in any of those or other factors expected to affect collectability.
Depreciation and Amortization	(g) Depreciation and Amortization Depreciation and amortization of equipment and leasehold improvements has been computed using the straight-line method over the following useful lives: Equipment 3 years Furniture and fixtures 3 years Automobiles 3 years Leasehold improvements Lesser of lease term or useful life
Net Loss Per Common Share	(h) Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed by dividing income (loss) available to common stockholders of TSR, Inc. by the weighted average number of common shares outstanding. The Company had no stock options or other common stock equivalents outstanding during the fiscal years ended May 31, 2015 or 2014.
Income Taxes	(i) Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities at enacted rates expected to be in effect when such amounts are realized or settled. The effect of enacted tax law or rate changes is reflected in income in the period of enactment.
Fair Value of Financial Instruments	(j) Fair Value of Financial Instruments ASC Topic 825, “Financial Instruments”, requires disclosure of the fair value of certain financial instruments. For cash and cash equivalents, accounts receivable, accounts and other payables, accrued liabilities and advances from customers, the amounts presented in the consolidated financial statements approximate fair value because of the short-term maturities of these instruments.
Use of Estimates	(k) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted 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 revenue and expenses during the reporting period. Such estimates include, but are not limited to provisions for doubtful accounts receivable and assessments of the recoverability of the Company’s deferred tax assets. Actual results could differ from those estimates.
Long-Lived Assets	(l) Long-Lived Assets The Company reviews its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the expected cash flows undiscounted and without interest, is less than the carrying amount of the asset, an impairment loss is recognized for the amount by which the carrying amount of the asset exceeds its fair value.
Impact of New Accounting Standards	(m) Impact of New Accounting Standards In May 2014, the FASB issued an update to ASC 606, Revenue from Contracts with Customers. This update to ASC 606 provides a five-step process to determine when and how revenue is recognized. The core principle of the guidance is that a Company should recognize revenue upon transfer of promised goods or services to customers in an amount that reflects the expected consideration to be received in exchange for those goods or services. This update to ASC 606 will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively, and improving guidance for multiple-element arrangements. This update to ASC 606 is effective for the Company beginning in fiscal 2017. The Company is currently evaluating the impact of this update on its consolidated financial statements.
Credit Risk	(n) Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, certificates of deposit, marketable securities and accounts receivable. The Company places its cash equivalents with high-credit quality financial institutions and brokerage houses. The Company has substantially all of its cash in four bank accounts. At times, such amounts may exceed Federally insured limits. The Company holds its marketable securities in brokerage accounts. The Company has not experienced losses in any such accounts. The Company’s accounts receivable represent approximately 53 accounts with open balances of which, the two largest customers, as a percentage of revenue, consisted of 24.1% of the net accounts receivable balance at May 31, 2015.

Summary of Significant Accoun12

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	May. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of cash and cash equivalents	2015 2014 Cash in banks $ 2,851,802 $ 2,279,148 Money market funds 817,988 562,819 $ 3,669,790 $ 2,841,967
Summary of assets measured at fair value on recurring basis	May 31, 2015 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,244,000 $ - $ 1,244,000 Equity securities 27,568 - - 27,568 $ 27,568 $ 1,244,000 $ - $ 1,271,568 May 31, 2014 Level 1 Level 2 Level 3 Total Certificates of deposit $ - $ 1,493,000 $ - $ 1,493,000 Equity securities 21,856 - - 21,856 $ 21,856 $ 1,493,000 $ - $ 1,514,856
Summary of marketable securities	Amortized Gross Gross Recorded Current 2015: Certificates of deposit $ 1,244,000 $ - $ - $ 1,244,000 Equity securities 16,866 10,702 - 27,568 $ 1,260,866 $ 10,702 $ - $ 1,271,568 Current 2014: Certificates of deposit $ 1,493,000 $ - $ - $ 1,493,000 Equity securities 16,866 4,990 - 21,856 $ 1,509,866 $ 4,990 $ - $ 1,514,856
Summary of useful lives of assets	Equipment 3 years Furniture and fixtures 3 years Automobiles 3 years Leasehold improvements Lesser of lease term or useful life

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	May. 31, 2015
Income Taxes [Abstract]
Summary of Income tax provision (benefit) and tax rate reconciliation	2015 % 2014 % Amounts at statutory Federal tax rate $ 151,000 34.0 % $ 11,500 34.0 % Noncontrolling interest (34,000 ) (7.6 ) (35,000 ) (103.3 ) State and local taxes, net of Federal income tax effect 13,000 2.9 22,000 64.9 Non-deductible expenses and other 22,000 4.9 18,500 54.6 $ 152,000 34.2 % $ 17,000 50.2 %
Schedule of components of the provision (benefit) for income taxes	Federal State Total 2015: Current $ 32,000 $ 52,000 $ 84,000 Deferred 100,000 (32,000 ) 68,000 $ 132,000 $ 20,000 $ 152,000 2014: Current $ (29,000 ) $ 30,000 $ 1,000 Deferred 13,000 3,000 16,000 $ (16,000 ) $ 33,000 $ 17,000
Schedule of deferred income tax assets	2015 2014 Allowance for doubtful accounts receivable $ 86,000 $ 86,000 Accrued compensation and other accrued expenses 34,000 - Net operating loss carryforward 25,000 103,000 Equipment and leasehold improvement depreciation and amortization 1,000 11,000 Acquired client relationships 5,000 16,000 Unrealized gain (3,000 ) - Total deferred income tax assets $ 148,000 $ 216,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	May. 31, 2015
Commitments and Contingencies [Abstract]
Summary of noncancellable long-term operating lease commitments	Fiscal Year Amount 2016 $ 324,000 2017 284,000 2018 167,000 2019 107,000 2020 - Total $ 882,000

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Details) - USD ($)	May. 31, 2015	May. 31, 2014	May. 31, 2013
Summary of cash and cash equivalents
Cash in banks	$ 2,851,802	$ 2,279,148
Money market funds	817,988	562,819
Total	$ 3,669,790	$ 2,841,967	$ 1,881,161

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Details 1) - Fair Value, Measurements, Recurring [Member] - USD ($)	May. 31, 2015	May. 31, 2014
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	$ 1,271,568	$ 1,514,856
Certificates of Deposit [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	1,244,000	1,493,000
Equity Securities [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	27,568	21,856
Level 1 [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	$ 27,568	$ 21,856
Level 1 [Member] | Certificates of Deposit [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value
Level 1 [Member] | Equity Securities [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	$ 27,568	$ 21,856
Level 2 [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	1,244,000	1,493,000
Level 2 [Member] | Certificates of Deposit [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value	$ 1,244,000	$ 1,493,000
Level 2 [Member] | Equity Securities [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value
Level 3 [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value
Level 3 [Member] | Certificates of Deposit [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value
Level 3 [Member] | Equity Securities [Member]
Summary of assets measured at fair value on recurring basis
Assets measured at fair value

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Details 2) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Summary of marketable securities
Amortized Cost	$ 1,260,866	$ 1,509,866
Gross Unrealized Holding Gains	$ 10,702	$ 4,990
Gross Unrealized Holding Losses
Recorded Value	$ 1,271,568	$ 1,514,856
Certificates of Deposit [Member]
Summary of marketable securities
Amortized Cost	$ 1,244,000	$ 1,493,000
Gross Unrealized Holding Gains
Gross Unrealized Holding Losses
Recorded Value	$ 1,244,000	$ 1,493,000
Equity Securities [Member]
Summary of marketable securities
Amortized Cost	16,866	16,866
Gross Unrealized Holding Gains	$ 10,702	$ 4,990
Gross Unrealized Holding Losses
Recorded Value	$ 27,568	$ 21,856

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details 3)	12 Months Ended
	May. 31, 2015
Equipment [Member]
Summary of depreciation and amortization of equipment and leasehold improvements useful lives
Depreciation and amortization of equipment and leasehold improvements, useful lives	3 years
Furniture and Fixtures [Member]
Summary of depreciation and amortization of equipment and leasehold improvements useful lives
Depreciation and amortization of equipment and leasehold improvements, useful lives	3 years
Automobiles [Member]
Summary of depreciation and amortization of equipment and leasehold improvements useful lives
Depreciation and amortization of equipment and leasehold improvements, useful lives	3 years
Leasehold improvements [Member]
Summary of depreciation and amortization of equipment and leasehold improvements useful lives
Depreciation and amortization of equipment and leasehold improvements, useful lives	Lesser of lease term or useful life

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	May. 31, 2015USD ($)Customers	May. 31, 2014USD ($)Customers
Summary of Significant Accounting Policies (Textual)
Number of customers	2	3
Accounts receivable with largest customers | $	$ 2,109,000	$ 3,122,000
Revenues [Member]
Summary of Significant Accounting Policies (Textual)
Concentration risk	10.00%	10.00%
Revenues [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies (Textual)
Concentration risk	34.90%	42.50%
Largest, concentration risk	19.20%	16.60%
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration risk	24.10%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Summary of reconciliation of the provisions for income taxes computed at the Federal statutory rates
Amounts at statutory Federal tax rate	$ 151,000	$ 11,500
Noncontrolling interest	(34,000)	(35,000)
State and local taxes, net of Federal income tax effect	13,000	22,000
Non-deductible expenses and other	22,000	18,500
Provision (benefit) for income taxes	$ 152,000	$ 17,000
Amounts at statutory Federal tax rate, Tax rate	34.00%	34.00%
Non-controlling interest, Tax rate	(7.60%)	(103.30%)
State and local taxes, net of Federal income tax effect, Tax rate	2.90%	64.90%
Non-deductible expenses and other, Tax rate	4.90%	54.60%
Provision (benefit) for income taxes, Tax rate	34.20%	50.20%

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Schedule of components of the provision (benefit) for income taxes
Federal tax expense, Current	$ 32,000	$ (29,000)
State tax expense, Current	52,000	30,000
Provisions for income taxes, Current, Total	84,000	1,000
Federal tax expense, Deferred	100,000	13,000
State tax expense, Deferred	(32,000)	3,000
Provisions of income taxes, Deferred, Total	68,000	16,000
Federal provision for income taxes	132,000	(16,000)
State provision for income taxes	20,000	33,000
Provision (benefit) for income taxes	$ 152,000	$ 17,000

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	May. 31, 2015	May. 31, 2014
Schedule of deferred income tax assets
Allowance for doubtful accounts receivable	$ 86,000	$ 86,000
Accrued compensation and other accrued expenses	34,000
Net operating loss carryforward	25,000	$ 103,000
Equipment and leasehold improvement depreciation and amortization	1,000	11,000
Acquired client relationships	5,000	$ 16,000
Unrealized gain	(3,000)
Total deferred income tax assets	$ 148,000	$ 216,000

Commitments and Contingencies23

Commitments and Contingencies (Details)	May. 31, 2015USD ($)
Summary of noncancellable long-term operating lease commitments
2,016	$ 324,000
2,017	284,000
2,018	167,000
2,019	$ 107,000
2,020
Total	$ 882,000

Commitments and Contingencies24

Commitments and Contingencies (Details Textual)	12 Months Ended
	May. 31, 2015USD ($)Officers	May. 31, 2014USD ($)
Commitments and Contingencies (Textual)
Rent expenses under all lease agreements	$ 390,000	$ 322,000
Employment Agreement [Member]
Commitments and Contingencies (Textual)
Number of officers | Officers	2
Description of agreement expiration date	Through 2,020
Payment due under agreement	$ 1,775,000

Stockholders' Equity (Details)

Stockholders' Equity (Details)	May. 31, 2015shares
Stockholders' Equity (Textual)
Shares remain available for purchase	56,318