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|  Notes to the Financial Statements Note 15: Intangible Assets | Consolidated | | University | | Software - Purchased | Software - Internally Generated | Non Software Development Costs | Consolidated Total | | Software - Purchased | Software - Internally Generated | University Total | This Year | $000 | $000 | $000 | $000 | | $000 | $000 | $000 | | Opening Balance at 1 January 2008 | Cost | 11,226 | 925 | 1,914 | 14,065 | | 11,226 | 925 | 12,151 | Accumulated Amortisation and Impairment | ( 5,209 ) | ( 334 ) | - | ( 5,543 ) | | ( 5,209 ) | ( 334 ) | ( 5,543 ) | Opening Carrying Amount | 6,017 | 591 | 1,914 | 8,522 | | 6,017 | 591 | 6,608 | | Year Ended 31 December 2008 | Additions | 848 | - | 2,421 | 3,269 | | 848 | - | 848 | Disposals | - | - | - | - | | - | - | - | Amortisation Charge | ( 954 ) | ( 131 ) | - | ( 1,085 ) | | ( 954 ) | ( 131 ) | ( 1,085 ) | Closing Carrying Amount | 5,911 | 460 | 4,335 | 10,706 | | 5,911 | 460 | 6,371 | | Closing Balance at 31 December 2008 | Cost | 12,074 | 925 | 4,335 | 17,334 | | 12,074 | 925 | 12,999 | Accumulated Amortisation and Impairment | ( 6,163 ) | ( 465 ) | - | ( 6,628 ) | | ( 6,163 ) | ( 465 ) | ( 6,628 ) | Closing Carrying Amount | 5,911 | 460 | 4,335 | 10,706 | | 5,911 | 460 | 6,371 | | | Consolidated | | University | | Software - Purchased | Software - Internally Generated | Non Software Development Costs | Consolidated Total | | Software - Purchased | Software - Internally Generated | University Total | Last Year | $000 | $000 | $000 | $000 | | $000 | $000 | $000 | | | Opening Balance at 1 January 2007 | Cost | 10,379 | 925 | 310 | 11,614 | | 10,379 | 925 | 11,304 | Accumulated Amortisation and Impairment | ( 4,450 ) | ( 258 ) | - | ( 4,708 ) | | ( 4,450 ) | ( 258 ) | ( 4,708 ) | Opening Carrying Amount | 5,929 | 667 | 310 | 6,906 | | 5,929 | 667 | 6,596 | | Year Ended 31 December 2007 | Additions | 1,324 | - | 1,604 | 2,928 | | 1,324 | - | 1,324 | Disposals | ( 477 ) | - | - | ( 477 ) | | ( 477 ) | - | ( 477 ) | Amortisation Charge * | ( 759 ) | ( 76 ) | - | ( 835 ) | | ( 759 ) | ( 76 ) | ( 835 ) | Closing Carrying Amount | 6,017 | 591 | 1,914 | 8,522 | | 6,017 | 591 | 6,608 | | Closing Balance at 31 December 2007 | Cost | 11,226 | 925 | 1,914 | 14,065 | | 11,226 | 925 | 12,151 | Accumulated Amortisation and Impairment | ( 5,209 ) | ( 334 ) | - | ( 5,543 ) | | ( 5,209 ) | ( 334 ) | ( 5,543 ) | Closing Carrying Amount | 6,017 | 591 | 1,914 | 8,522 | | 6,017 | 591 | 6,608 | * The Amortisation Charge for 2007 reflects that the actual life of all Software is 10 years rather than the assessed life of some software at 4 years in 2006. The net adjustment in 2007 was $688,000. Non Software Development Costs Cost incurred on development of projects (relating to the design and testing of new or improved products) are recognised as assets when the following criteria have been fulfilled: - it is technically feasible to complete the intangible asset and use or sell it;
- management intends to complete the intangible asset and use or sell it;
- there is an ability to use or sell the intangible asset;
- it can be demonstrated how the intangible asset will generate probable future economic benefit;
- adequate technical, financial and other resources to complete the development and to use or sell the intangible asset are available; and
- the expediture attributable to the intangible asset during its development can be reliably measured.
There are no restrictions over the title of the University's intangible assets, nor are any intangible assets pledged as security for liabilities. | |
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