91르적 Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2014

Significant Accounting Policies [Abstract]

Schedule of Property and Equipment 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

Schedule of Reclassifications

For the year ended December 31, 2012, the Company reclassified $273,225, from Cost of Revenues to General and Administrative, both within Operating Expenses:


	For the Year Ended December 31, 2012
	Reclassifications
												Financial
	As		Dues,						Executive			Aid
	Previously		Fees, &			Consulting			Academic			Processing			As
	Reported		Licenses			Expense			Chair			Costs			Reclassified
Operating Expenses:
Cost of Revenues	$	2,342,037		(32,234	)		(111,927	)		(105,500	)		(23,564	)	$	2,068,812
General and administrative		5,235,282		32,234			111,927			105,500			23,564			5,508,507
Receivable Collateral Valuation Reserve		502,315														502,315
Depreciation and amortization		397,923