Note 12
Intangible assets18
Model Financial Statements: Te Motu Regional Economic Development Trust 2010/11
| NZ IAS 38.118 | Actual | Actual | |
|---|---|---|---|
| 2011 | 2010 | ||
| Acquired computer software | |||
| Cost | |||
| Balance at 1 July | 54,000 | 54,000 | |
| Additions | 0 | 0 | |
| Disposals | 0 | 0 | |
| Balance at 30 June | 54,000 | 54,000 | |
| Accumulated amortisation and impairment losses | |||
| Balance as at 1 July | 15,000 | 2,500 | |
| Amortisation expense | 15,000 | 12,500 | |
| Impairment losses | 0 | 0 | |
| Disposals | 0 | 0 | |
| Balance at 30 June | 30,000 | 15,000 | |
| Carrying amounts | |||
| As at 1 July | 39,000 | 51,500 | |
| At 30 June | 24,000 | 39,000 | |
| NZ IAS 38.122(d) | There are no restrictions over the title of the Trust’s intangible assets; nor are any intangible assets pledged as security for liabilities. | ||
18: NZ IAS 38.118 requires entities to distinguish between internally generated intangible assets and other intangible assets. For example, internally developed software shall be distinguished from acquired software.
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