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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
May 31, 2018
May 31, 2017
Cash flows from operating activities    
Net income $ 7,596,828 $ 4,637,354
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,015,825 1,547,041
Change in value of contingent consideration 114,564
Stock-based compensation 514,416 355,365
Deferred income taxes (1,737,199) 99,259
(Increase) decrease in    
Accounts receivable (3,652,934) (2,001,072)
Revenues in excess of billings (537,337) (436,023)
Prepaid income taxes 462,443 313,946
Prepaid expenses and other assets 73,102 106,403
Increase (decrease) in    
Accounts payable (43,782) 103,534
Accrued payroll and other expenses 122,902 90,343
Billings in excess of revenues 217,846 83,299
Accrued income taxes 169,452 0
Other liabilities 0 (8,274)
Deferred revenue 467,281 (127,458)
Net cash provided by operating activities 5,783,407 4,763,717
Cash flows used in investing activities    
Purchases of property and equipment (89,648) (117,519)
Capitalized computer software development costs (1,631,724) (928,460)
Net cash used in investing activities (1,721,372) (1,045,979)
Cash flows used in financing activities    
Payment of dividends (3,117,393) (2,585,043)
Payments on contracts payable (247,328) (1,000,000)
Proceeds from the exercise of stock options 310,083 85,218
Net cash used in financing activities (3,054,638) (3,499,825)
Net increase (decrease) in cash and cash equivalents 1,007,397 217,913
Cash and cash equivalents, beginning of year 6,215,718 8,030,284
Cash and cash equivalents, end of period 7,223,115 8,248,197
Supplemental disclosures of cash flow information    
Income taxes paid $ 1,763,825 $ 1,765,189