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ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 9 Months Ended
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Sep. 30, 2012
ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract] |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | NOTE 7 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following:
|  | September 30, 2012 |  |  | December 31, 2011 |
Accounts payable |  | $ | 3,526,042 |  |  | $ | 3,645,804 |
Salary payable |  |  | 185,102 |  |  |  | 132,454 |
Social security insurance contribution payable |  |  | 51,216 |  |  |  | 39,129 |
Amount due to a contractor |  |  | - |  |  |  | 1,422,042 |
Price adjustment funds |  |  | 1,580,628 |  |  |  | 1,031,685 |
Other payables |  |  | 1,038,430 |  |  |  | 1,102,529 |
Total |  | $ | 6,381,418 |  |  | $ | 7,373,643 |

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 + Details
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