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Property and Equipment | 6 Months Ended
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Dec. 31, 2014
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 7 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | As of December 31, 2014 |  |  | As of June 30, 2014 |
Office Furniture and Equipment |  | $ | 2,624,218 |  |  | $ | 2,628,814 |
Computer Equipment |  |  | 25,899,260 |  |  |  | 27,215,091 |
Assets Under Capital Leases |  |  | 1,804,147 |  |  |  | 1,861,445 |
Building |  |  | 6,068,353 |  |  |  | 6,259,290 |
Land |  |  | 3,249,086 |  |  |  | 3,351,316 |
Capital Work In Progress |  |  | 3,184,387 |  |  |  | 2,812,181 |
Autos |  |  | 994,641 |  |  |  | 999,277 |
Improvements |  |  | 510,573 |  |  |  | 533,102 |
Subtotal |  |  | 44,334,665 |  |  |  | 45,660,516 |
Accumulated Depreciation |  |  | (16,791,176 | ) |  |  | (15,939,388 | )
Property and Equipment, Net |  | $ | 27,543,489 |  |  | $ | 29,721,128 |
For the three and six months ended December 31, 2014, depreciation expense totaled $1,360,652 and $2,729,359, respectively. Of these amounts, $932,063 and $1,850,955, respectively, are reflected in cost of revenues. For the three and six months ended December 31, 2013, depreciation expense totaled $1,116,347 and $2,113,907, respectively. Of these amounts, $715,871 and $1,327,961, respectively, are reflected in cost of revenues. The Company’s capital work in progress consists of ongoing enhancements to its facilities and infrastructure necessary to meet expected long term growth needs. Accumulated capitalized interest was $776,463 and $664,614 as of December 31, 2014 and June 30, 2014, respectively. Following is a summary of fixed assets held under capital leases as of December 31, 2014 and June 30, 2014:
|  | As of December 31, 2014 |  |  | As of June 30, 2014 |
Computers and Other Equipment |  | $ | 684,941 |  |  | $ | 731,354 |
Furniture and Fixtures |  |  | 355,037 |  |  |  | 280,184 |
Vehicles |  |  | 764,169 |  |  |  | 849,907 |
Total |  |  | 1,804,147 |  |  |  | 1,861,445 |
Less: Accumulated Depreciation - Net |  |  | (514,566 | ) |  |  | (469,336 | )
|  | $ | 1,289,581 |  |  | $ | 1,392,109 |

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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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