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E - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET | 12 Months Ended
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Dec. 31, 2014
C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET | Furniture, equipment and leasehold improvements consist of the following:
|  | December 31, |
|  | 2014 |  | 2013 |
Equipment |  | $ | 524,000 |  | $ | 518,000 |
Leasehold improvements |  |  | 546,000 |  |  | 427,000 |
Furniture and fixtures |  |  | 43,000 |  |  | 14,000 |
|  |  | 1,113,000 |  |  | 959,000 |
Less accumulated depreciation and amortization |  |  | (504,000 | ) |  | (247,000 | )
|  | $ | 609,000 |  | $ | 712,000 |
Depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 amounted to $257,000, $120,000 and $274,000, respectively. Due to the Company’s discontinuation of its relationship with a software vendor on June 30, 2012, which had developed and maintained the Company’s website, the Company wrote-off remaining related software development costs of $433,000. The unamortized carrying value of such development costs consisted of $1,856,000 of cost net of $1,423,000 of accumulation amortization. Effective July 1, 2012, such services are provided by the Company’s clearing broker.
Siebert, Brandford, Shank Financial LLC and Subsidiary |
C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET | Furniture, equipment, and leasehold improvements consist of the following:
|  | December 31, |
|  | 2014 |  | 2013 |
Equipment |  | $ | 926,654 |  | $ | 896,376 |
Furniture and leasehold improvements |  |  | 1,718,826 |  |  | 1,659,740 |
|  |  | 2,645,480 |  |  | 2,556,116 |
Less accumulated depreciation and amortization |  |  | 1,960,744 |  |  | 1,733,983 |
|  | $ | 684,736 |  | $ | 822,133 |
Depreciation and amortization expense for 2014, 2013 and 2012 amounted to $226,761, $250,154 and $266,093 respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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