Property and Equipment

3 Months Ended

May 31, 2012

Property, Plant and Equipment Disclosure

NOTE 5 - PROPERTY AND EQUIPMENT

The following is a summary of property and equipment:

	Estimated Useful Life (years)	May 31, 2012	February 29, 2012
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		(138,977)	(134,816)
		$ 41,211	$ 45,372

Depreciation expense totaled $4,161 and $4,819 for the three months ended May 31, 2012 and 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-Q