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Fixed Assets

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

5. Fixed Assets

The following is a summary of the fixed assets as of December 31:

	2012						2011
	Cost		Accumulated Depreciation		Net Book Value		Cost		Accumulated Depreciation		Net Book Value
Computers, furniture and fixtures	$	111,356	$	(83,537)	$	27,819	$	100,373	$	(73,521)	$	26,852
Leasehold improvements		57,350		(32,255)		25,095		49,292		(28,407)		20,885
	$	168,706	$	(115,792)	$	52,914	$	149,665	$	(101,928)	$	47,737

Included in fixed assets are assets under capital lease obligations with a cost of $3,941, (2011 – $4,243) and accumulated depreciation of $2,721 (2011 – $2,816). Depreciation expense for the years ended December 31, 2012, 2011 and 2010 was $18,784, $17,617 and $16,441, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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