FAIR VALUE OF FINANCIAL INSTRUMENTS. The carrying value of financial instruments including cash, accounts receivable, accounts payable, and lines of credit approximates their fair value based on the short-term nature of these instruments. Property and equipment are recorded at cost. Expenditures for repairs and maintenance which do not extend the useful life of the related assets are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets ranging from 1 to 5 years.
Appears in 4 contracts
Sources: Agreement for the Sale and Purchase of Share Capital (Research Pharmaceutical Services, Inc.), Sale and Purchase Agreement (Research Pharmaceutical Services, Inc.), Sale and Purchase Agreement (Research Pharmaceutical Services, Inc.)