Property and Equipment

12 Months Ended

Feb. 29, 2012

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 - PROPERTY AND EQUIPMENT

The following is a summary of property and equipment:

	Estimated
	Useful Live	February 29, 2012		February 28, 2011
Machinery and equipment	5	$	156,044	$	156,044
Computer equipment	3		1,354		1,354
Vehicles	5		8,000		8,000
Furniture	5		14,790		14,790
			180,188		180,188
Less: accumulated depreciation and impairment			(134,816)		(118,265)
		$	45,372	$	61,923

Depreciation expense totaled $16,551 and $12,311 for the years ended February 29, 2012 and February 28, 2011, respectively.

- 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

Varca Ventures, Inc. 10-K