NOTE 3 - PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2012

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3 – PROPERTY AND EQUIPMENT, NET

Property and equipment as of June 30, 2012 and December 31, 2011 were as follows:

	June 30,		December 31,
	2012		2011
	(Unaudited)
Furniture and fixtures	$	3,844	$	3,844
Office equipment		13,555		12,672
Computer software		3,573		3,573
		20,972		20,089

Less accumulated depreciation		15,863		15,329

Property and equipment, net	$	5,109	$	4,760

Depreciation expense was $289 and $823 for the three months ended June 30, 2012 and 2011, respectively, $534 and $1,678 for the six months ended June 30, 2012 and 2011, respectively, and $15,863 since inception.

- Definition

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.

+ References+ Details

ISLAND BREEZE INTERNATIONAL, INC. 10-Q