Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Significant Accounting Policies: Property and Equipment Useful Lives (Policies)

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Note 2 - Significant Accounting Policies: Property and Equipment Useful Lives (Policies)
3 Months Ended
Jun. 30, 2016
Policies  
Property and Equipment Useful Lives

Property and Equipment Useful Lives

Property and equipment is stated at cost.  Depreciation on property and equipment is computed using the diminishing balance method over the estimated useful lives of the assets.  The estimated useful lives of the assets are as follows:

 

Assets

Estimated useful life

Furniture and fixtures

7 Years

Machinery and equipment

7 Years

Buildings

30 Years

Vehicles

5 Years

Computers

3 Years

Software

2 Years

 

Beginning in fiscal year 2016, we revised the estimated useful lives from 5 to 7 years for furniture and fixtures, and machinery and equipment, 25 to 30 years for buildings, 3 to 5 years for vehicles, and added a software asset type that has a useful life of 2 years.  The change in depreciable lives is considered a change in accounting estimate on a prospective basis from April 1, 2015 and had an immaterial impact on overall financial statements for the period ended June 30, 2016.