5. Fixed Assets

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


	2013							2012
	Cost		Accumulated Depreciation			Net Book Value		Cost		Accumulated Depreciation			Net Book Value
Computers, furniture and fixtures	$	109,252	$	(83,383	)	$	25,869	$	111,356	$	(83,537	)	$	27,819
Leasehold improvements		60,938		(34,736	)		26,202		57,350		(32,255	)		25,095
	$	170,190	$	(118,119	)	$	52,071	$	168,706	$	(115,792	)	$	52,914

Included in fixed assets are assets under capital lease obligations with a cost of $2,462, (2012 – $3,941) and accumulated depreciation of $1,417 (2012 – $2,721). Depreciation expense for the years ended December 31, 2013, 2012 and 2011 was $19,645, $18,758 and $17,603, 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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