Annual report pursuant to section 13 and 15(d)

2. Significant Accounting Policies (Tables)

v2.4.0.6
2. Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Significant Accounting Policies Tables  
Depreciation and amortization over the estimated useful lives

Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets per the following table.

 

Category    Depreciation Term
Call center equipment   5 years
Computer and office equipment   5 years
Furniture and fixtures   7 years
Library (online)    3 years
Software   5 years
Vehicle   5 years

 
Reclassifications to the consolidated statements of operations

The following tables show the reclassifications to the consolidated statements of operations for the year ended December 31, 2011.

 

    For the Year Ended December 31, 2011  
          Reclassifications        
                            Financial              
                      Courseware     Aid     Training and        
    As Previously     Bad Debt     Consulting     Development     Processing     Seminars     As  
    Reported     Expense     Expense     Costs     Costs     Expense     Reclassified  
                                           
Costs and expenses:                                          
Instructional costs and services   $ 2,493,341     $ (21,200 )         $ (236,953 )   $ (35,154 )         $ 2,200,034  
Marketing and promotional     1,181,558             $ (658,832 )                   $ (7,364 )     515,362  
General and administrative     2,634,453       21,200       658,832       236,953       35,154       7,364       3,593,956  
Depreciation and amortization     264,082                                               264,082  
Total costs and expenses   $ 6,573,434                                             $ 6,573,434