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Fixed Assets

6 Months Ended

Sep. 30, 2011

4. Fixed Assets

Fixed assets consist of equipment, software and leasehold improvements. Equipment consists primarily of communications and technology hardware and furniture and fixtures. Software includes purchased software and internally developed software. Fixed assets are reported at cost, net of accumulated depreciation and amortization. The following table reflects the components of fixed assets as of:



	September 30, 2011			March 31, 2011
Equipment	$	198,740		$	200,696
Software	209,768			224,026
Leasehold improvements	278,444			280,277
Total cost	686,952			704,999
Less: accumulated depreciation and amortization	(420,650		)	(418,294		)
Fixed assets, net	$	266,302		$	286,705

Depreciation and amortization expense included in operating income was $16,661 and $20,097 for the three months ended September 30, 2011 and 2010, respectively, and $33,963 and $40,937 for the six months ended September 30, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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