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 2010
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 )
Opening Carrying Amount 5,692 384 7,359 13,435   5,682 384 6,066

Year Ended 31 December 2010
Additions 1,507 - 1,741 3,248   1,507 - 1,507
Disposals - - ( 680 ) ( 680 )   - - -
Amortisation and Impairment Charge ( 1,242 ) ( 76 ) ( 1,160 ) ( 2,478 )   ( 1,238 ) ( 76 ) ( 1,314 )
Closing Carrying Amount 5,957 308 7,260 13,525   5,951 308 6,259

Closing Balance at 31 December 2010
Cost 14,437 925 9,400 24,762   14,422 925 15,347
Accumulated Amortisation and Impairment ( 8,480 ) ( 617 ) ( 2,140 ) ( 11,237 )   ( 8,471 ) ( 617 ) ( 9,088 )
Closing Carrying Amount 5,957 308 7,260 13,525   5,951 308 6,259
 

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 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 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

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.

The total amount of intangible assets in the course of construction is $459,000 (2009 $497,000)

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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