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Fixed Assets

3 Months Ended

Jun. 30, 2013

5. 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:



	June 30, 2013			March 31, 2013
Equipment	$	150,051		$	152,065
Software	233,121			227,739
Leasehold improvements	215,863			222,260
Total cost	599,035			602,064
Less: accumulated depreciation and amortization	(399,112		)	(400,245		)
Fixed assets, net	$	199,923		$	201,819

Depreciation and amortization expense included in operating income was $11,848 and $13,575 for the three months ended June 30, 2013 and 2012, 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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