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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Mar. 31, 2013
Schedule of error corrections and prior period adjustments |
|  | 2012 as Reported |  |  | Correction |  |  | 2012 as Corrected |
Consolidated Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables, net |  | $ | 242,348,521 |  |  | $ | (1,095,091 | ) |  | $ | 241,253,430 |
Deferred income taxes |  |  | 8,704,099 |  |  |  | 419,201 |  |  |  | 9,123,300 |
Retained earnings, March 31, 2012 |  |  | 107,513,008 |  |  |  | (675,890 | ) |  |  | 106,837,118 |
|  | 2012 as Reported |  |  | Correction |  |  | 2012 as Corrected |
Consolidated Statements of Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and fee income on finance receivables |  | $ | 68,122,532 |  |  | $ | 12,348,448 |  |  | $ | 80,470,980 |
Provision for credit losses |  |  | 5,319 |  |  |  | 12,362,274 |  |  |  | 12,367,593 |
Income tax expense |  |  | 13,931,809 |  |  |  | (5,293 | ) |  |  | 13,926,516 |
Operating income |  |  | 36,162,101 |  |  |  | (13,826 | ) |  |  | 36,148,275 |
Net income |  |  | 22,230,292 |  |  |  | (8,533 | ) |  |  | 22,221,759 |
Earnings per share - basic |  |  | 1.89 |  |  |  | — |  |  |  | 1.89 |
Earnings per share - diluted |  |  | 1.85 |  |  |  | — |  |  |  | 1.85 |
|  | 2011 as Reported |  |  | Correction |  |  | 2011 as Corrected |
Interest and fee income on finance receivables |  | $ | 62,719,904 |  |  | $ | 10,941,553 |  |  | $ | 73,661,457 |
Provision for credit losses |  |  | 4,610,221 |  |  |  | 11,001,323 |  |  |  | 15,611,544 |
Income tax expense |  |  | 10,541,620 |  |  |  | (22,880 | ) |  |  | 10,518,740 |
Operating income |  |  | 27,346,804 |  |  |  | (59,770 | ) |  |  | 27,287,034 |
Net income |  |  | 16,805,184 |  |  |  | (36,890 | ) |  |  | 16,768,294 |
Earnings per share – basic |  |  | 1.45 |  |  |  | (.01 | ) |  |  | 1.44 |
Earnings per share - diluted |  |  | 1.41 |  |  |  | — |  |  |  | 1.41 |
|  | Reported |  |  | Correction |  |  | As Corrected |
Consolidated Statements of Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings, March 31, 2010 |  | $ | 72,070,553 |  |  | $ | (630,467 | ) |  | $ | 71,440,086 |
Retained earnings, March 31, 2011 |  |  | 88,875,737 |  |  |  | (667,357 | ) |  |  | 88,208,380 |
|  | 2012 as Reported |  |  | Correction |  |  | 2012 as Corrected |
Consolidated Statements of Cash Flows (Operating Activities) |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 22,230,292 |  |  | $ | (8,533 | ) |  | $ | 22,221,759 |
Provision for credit losses |  |  | 5,319 |  |  |  | 12,362,274 |  |  |  | 12,367,593 |
Deferred income taxes |  |  | 250,566 |  |  |  | (5,293 | ) |  |  | 245,273 |
Amortization of dealer discounts |  |  | — |  |  |  | (12,348,448 | ) |  |  | (12,348,448 | )
Net cash provided by operating activities |  |  | 21,874,879 |  |  |  | — |  |  |  | 21,874,879 |
|  | 2011 as Reported |  |  | Correction |  |  | 2011 as Corrected |
Net income |  | $ | 16,805,184 |  |  | $ | (36,890 | ) |  | $ | 16,768,294 |
Provision for credit losses |  |  | 4,610,221 |  |  |  | 11,001,323 |  |  |  | 15,611,544 |
Deferred income taxes |  |  | (1,417,788 | ) |  |  | (22,880 | ) |  |  | (1,440,668 | )
Amortization of dealer discounts |  |  | — |  |  |  | (10,941,553 | ) |  |  | (10,941,553 | )
Net cash provided by operating activities |  |  | 21,357,624 |  |  |  | — |  |  |  | 21,357,624 |
Schedule of property and equipment estimated useful lives |
Automobiles |  | 3 years
Equipment |  | 5 years
Furniture and fixtures |  | 7 years
Leasehold improvements |  | Lesser of lease term or useful life (generally 6 - 7 years)
Schedule of computation of basic and diluted earnings per share |
|  | Fiscal Year ended March 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Numerator for earnings per share – net income |  | $ | 19,940,946 |  |  | $ | 22,221,759 |  |  | $ | 16,768,294 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share – weighted average shares |  |  | 11,977,174 |  |  |  | 11,747,160 |  |  |  | 11,607,341 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock options and other share awards |  |  | 241,242 |  |  |  | 285,971 |  |  |  | 286,177 |
Denominator for diluted earnings per share |  |  | 12,218,416 |  |  |  | 12,033,131 |  |  |  | 11,893,518 |
Earnings per share – basic |  | $ | 1.66 |  |  | $ | 1.89 |  |  | $ | 1.44 |
Earnings per share – diluted |  | $ | 1.63 |  |  | $ | 1.85 |  |  | $ | 1.41 |
Error Correction Finance Receivables | Contracts |
Schedule of error corrections and prior period adjustments |
|  | 2012 as Reported |  |  | Correction |  |  | 2012 as Corrected |
Indirect finance receivables, gross contract |  | $ | 382,766,667 |  |  | $ | — |  |  | $ | 382,766,667 |
Unearned interest |  |  | (109,456,018 | ) |  |  | — |  |  |  | (109,456,018 | )
Indirect finance receivables, net of unearned interest |  |  | 273,310,649 |  |  |  | — |  |  |  | 273,310,649 |
Unearned dealer discounts |  |  | — |  |  |  | (17,091,567 | ) |  |  | (17,091,567 | )
Indirect finance receivable, net of unearned interest and dealer discounts |  |  | 273,310,649 |  |  |  | (17,091,567 | ) |  |  | 256,219,082 |
Allowance for credit losses |  |  | (35,495,684 | ) |  |  | 15,996,476 |  |  |  | (19,499,208 | )
Indirect finance receivables, net |  | $ | 237,814,965 |  |  | $ | (1,095,091 | ) |  | $ | 236,719,874 |
|  | 2011 as Reported |  |  | Correction |  |  | 2011 as Corrected |
Indirect finance receivables, gross contract |  | $ | 368,099,418 |  |  | $ | — |  |  | $ | 368,099,418 |
Unearned interest |  |  | (105,622,007 | ) |  |  | — |  |  |  | (105,622,007 | )
Indirect finance receivables, net of unearned interest |  |  | 262,477,411 |  |  |  | — |  |  |  | 262,477,411 |
Unearned dealer discounts |  |  | — |  |  |  | (17,024,119 | ) |  |  | (17,024,119 | )
Indirect finance receivable, net of unearned interest and dealer discounts |  |  | 262,477,411 |  |  |  | (17,024,119 | ) |  |  | 245,453,292 |
Allowance for credit losses |  |  | (35,895,449 | ) |  |  | 15,942,854 |  |  |  | (19,952,595 | )
Indirect finance receivables, net |  | $ | 226,581,962 |  |  | $ | (1,081,265 | ) |  | $ | 225,500,697 |
Reconciliation Allowance For Credit Loss | Contracts |
Schedule of error corrections and prior period adjustments |
|  | 2012 as Reported |  |  | Correction |  |  | 2012 as Corrected |
Balance at beginning of year |  | $ | 35,895,449 |  |  | $ | (15,942,854 | ) |  | $ | 19,952,595 |
Discounts acquired on new volume |  |  | 12,415,896 |  |  |  | (12,415,896 | ) |  |  | — |
Provision for credit losses |  |  | (176,745 | ) |  |  | 12,362,274 |  |  |  | 12,185,529 |
Losses absorbed |  |  | (14,971,422 | ) |  |  | — |  |  |  | (14,971,422 | )
Recoveries |  |  | 2,405,750 |  |  |  | — |  |  |  | 2,405,750 |
Discounts accreted |  |  | (73,244 | ) |  |  | — |  |  |  | (73,244 | )
Balance at end of year |  | $ | 35,495,684 |  |  | $ | (15,996,476 | ) |  | $ | 19,499,208 |
|  | 2011 as Reported |  |  | Correction |  |  | 2011 as Corrected |
Balance at beginning of year |  | $ | 30,408,578 |  |  | $ | (14,024,685 | ) |  | $ | 16,383,893 |
Discounts acquired on new volume |  |  | 12,919,492 |  |  |  | (12,919,492 | ) |  |  | — |
Provision for credit losses |  |  | 4,484,284 |  |  |  | 11,001,323 |  |  |  | 15,485,607 |
Losses absorbed |  |  | (14,036,888 | ) |  |  | — |  |  |  | (14,036,888 | )
Recoveries |  |  | 2,255,683 |  |  |  | — |  |  |  | 2,255,683 |
Discounts accreted |  |  | (135,700 | ) |  |  | — |  |  |  | (135,700 | )
Balance at end of year |  | $ | 35,895,449 |  |  | $ | (15,942,854 | ) |  | $ | 19,952,595 |

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