Notes to the Financial Statements 

Note 16: 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 2009
Cost 12,074 925 4,583 17,583 12,074 925 12,999
Accumulated Amortisation and Impairment ( 6,164 ) ( 465 ) ( 248 ) ( 6,878 ) ( 6,164 ) ( 465 ) ( 6,629 )
Opening Carrying Amount 5,910 460 4,335 10,705 5,910 460 6,370

Year Ended 31 December 2009
Additions 856 - 3,756 4,612 841 - 841
Disposals - - - - - - -
Amortisation and Impairment Charge ( 1,074 ) ( 76 ) ( 732 ) ( 1,882 )   ( 1,069 ) ( 76 ) ( 1,145 )
Closing Carrying Amount 5,692 384 7,359 13,435 5,682 384 6,066

Closing Balance at 31 December 2009
Cost 12,930 925 8,339 22,194 12,915 925 13,840
Accumulated Amortisation and Impairment ( 7,238 ) ( 541 ) ( 980 ) ( 8,759 ) ( 7,233 ) ( 541 ) ( 7,774 )
Closing Carrying Amount 5,692 384 7,359 13,435   5,682 384 6,066
 
Last 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 4,583 17,583 12,074 925 12,999
Accumulated Amortisation and Impairment ( 6,164 ) ( 465 ) ( 248 ) ( 6,878 ) ( 6,164 ) ( 465 ) ( 6,629 )
Closing Carrying Amount 5,910 460 4,335 10,705 5,910 460 6,370

 

Notes to the
Financial Statements  

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 expenditure 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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