Property And Equipment

12 Months Ended

Dec. 31, 2012

4. Property and Equipment

Property and equipment and estimated useful lives at December 31 are summarized as follows:

	2012	2011
Land	$ 1,107,582	$ 1,107,582
Office buildings and improvements (25 years)	3,345,762	3,259,383
Furniture, fixtures and equipment (3 to 10 years)	5,209,505	5,114,112
Automobiles (3 years)	787,180	792,592
Total	10,450,029	10,273,669
Less accumulated depreciation	(6,846,706)	(6,720,453)
Property and equipment, net	$ 3,603,323	$ 3,553,216

- 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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