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Post-effective amendment to a registration statement that is not immediately effective upon filing

Significant Accounting Policies (Tables)

v2.4.0.8
Significant Accounting Policies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2013
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 table shows the reclassifications to the unaudited condensed consolidated statements of operations for the three months ended March 31, 2012.


                                 

 

 

For the Three Months Ended

March 31, 2012

 

 

 

 

 

Reclassifications

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued

 

 

 

 

 

 

As Previously

 

 

Bad Debt

 

 

Operations

 

 

As

 

 

 

Reported

 

 

Expense

 

 

(See Note 1)

 

 

Reclassified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Instructional costs and services

 

$

904,697

 

 

$

(32,955

)

 

$

(683,895

)

 

$

187,847

 

Marketing and promotional

 

 

437,305

 

 

 

 

 

 

 

 

 

 

 

437,305

 

General and administrative

 

 

1,719,326

 

 

 

32,955

 

 

 

 

 

 

 

1,752,281

 

Depreciation and amortization

 

 

89,749

 

 

 

 

 

 

 

 

 

 

 

89,749

 

Total costs and expenses

 

$

3,151,077

 

 

 

 

 

 

 

 

 

 

$

2,467,182

 


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

 

 

Training

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Courseware

 

 

Aid

 

 

and

 

 

Discontinued

 

 

 

 

 

 

As Previously

 

 

Bad Debt

 

 

Consulting

 

 

Development

 

 

Processing

 

 

Seminars

 

 

Operations

 

 

As

 

 

 

Reported

 

 

Expense

 

 

Expense

 

 

Costs

 

 

Costs

 

 

Expense

 

 

(See Note 1)

 

 

Reclassified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Instructional costs and services

 

$

2,493,341

 

 

$

(21,200

)

 

 

 

 

$

(236,953

)

 

$

(35,154

)

 

 

 

 

$

(1,674,127

)

 

$

525,907

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,899,307