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Property Plant and Equipment | 6 Months Ended
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Jun. 30, 2018
Property, Plant and Equipment [Abstract] |
Property Plant and Equipment | 8. PROPERTY, PLANT AND EQUIPMENT As of June 30, 2018 and December 31, 2017, property, plant and equipment consist of:
|  | June 30, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | (Unaudited) |  |  |  |
Office buildings |  | $ | 4,963,371 |  |  | $ | 5,177,737 |
Electronic equipment, furniture and fixtures |  |  | 11,328,333 |  |  |  | 11,422,706 |
Motor vehicles |  |  | 304,400 |  |  |  | 333,769 |
Purchased software |  |  | 11,885,780 |  |  |  | 10,998,174 |
|  |  | 28,481,884 |  |  |  | 27,932,386 |
Less: accumulated depreciation |  |  | (17,190,599 | ) |  |  | (16,101,688 | )
Property, plant and equipment, net |  | $ | 11,291,285 |  |  | $ | 11,830,698 |
Depreciation expenses for the six months ended June 30, 2018 and 2017 were approximately $1.5 million and $0.9 million, respectively. Management regularly evaluates property, plant and equipment for impairment, if an event occurs or circumstances change that would potentially indicate that the carrying amount of the property, plant and equipment exceeded its fair value. Management utilizes the discounted cash flow method to estimate the fair value of the property, plant and equipment. Based on the test of recoverability and the estimated fair value, management determined no impairment for the six months ended June 30, 2018 and 2017.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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