91 / 132
(d) Intangible assets
Computer
Software
$’000
Land Rights
$’000
Other
$’000
Total
$’000
Consolidated at 1 July 2015
Cost
19,762
42,378
55,000
117,140
Accumulated amortisation
(13,688)
(1,976)
(9,746)
(25,410)
Net book amount
6,074
40,402
45,254
91,730
Year ended 30 June 2016
Opening net book amount
as at 1 July
6,074
40,402
45,254
91,730
Additions into asset register
1,750
33
-
1,783
Amortisation charge
(2,355)
(825)
(3,772)
(6,952)
Closing net book amount
5,469
39,610
41,482
86,561
At 30 June 2016
Cost
14,491
42,411
55,000
111,902
Accumulated amortisation
(9,022)
(2,801)
(13,518)
(25,341)
Net book amount
5,469
39,610
41,482
86,561
Consolidated year ended
30 June 2017
Opening net book amount as
at 1 July
5,469
39,610
41,482
86,561
Additions into asset register
3,109
148
-
3,257
Amortisation charge
(2,754)
(945)
(3,773)
(7,472)
Transfers from land
-
2,175
-
2,175
Closing net book amount
5,824
40,988
37,709
84,521
At 30 June 2017
Cost
17,600
44,735
55,000
117,335
Accumulated amortisation
(11,776)
(3,747)
(17,291)
(32,814)
Net book amount
5,824
40,988
37,709
84,521
Note impairment is not applicable on the above assets.
Accounting policy
Intangible assets
Computer software has a finite useful life and is carried at cost less accumulated amortisation.
Amortisation is calculated using the straight line method to allocate the cost of computer software
over its estimated useful life of four years.
ARTC recognises land usage rights when costs are incurred to obtain land which ARTC does not
retain title but through leasing rights has the ability to utilise the land. Under lease arrangements,
ARTC may provide funds to other bodies to acquire additional land holdings to enable the
infrastructure to be expanded. ARTC is not entitled to be reimbursed for this expenditure but has the
right to use the land. The land rights have a finite useful life expiring in conjunction with the relevant
lease and are carried at cost less accumulated amortisation. Amortisation is calculated using the
straight line method to allocate the cost of land rights over its estimated useful life.
89
NOTE 7
NON-FINANCIAL ASSETS AND LIABILITIES (CONTINUED)