Note 8 - Property And Equipment
|12 Months Ended|
Jun. 30, 2012
|Property, Plant and Equipment Disclosure [Text Block]||
NOTE 8 – PROPERTY AND EQUIPMENT
Property and equipment, net, consisted of the following:
For the years ended June 30, 2012 and 2011, depreciation expense totaled $2,875,883 and $2,013,388, respectively. Of these amounts, $1,879,358 and $1,450,723 are reflected as part of cost of revenues as of June 30, 2012 and 2011, respectively.
The Company’s capital work in progress consists of ongoing enhancements to its facilities and infrastructure as necessary to meet the Company’s expected long-term growth needs. The Company recorded capitalized interest of $331,145 and 278,308 as of June 30, 2012 and 2011, respectively.
Assets acquired under capital leases were $1,877,145 and $2,024,282 as of June 30, 2012 and 2011, respectively. Accumulated amortization related to these leases were $900,790 and $807,562 for the years ended June 30, 2012 and 2011, respectively.
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef