Investor Presentaiton
Department of Health
Notes to the financial statements
For the year ended on 30 June 2023
5.2
Intangible assets (continued)
Subsequent measurement
5.2.1
The cost model is applied for subsequent measurement of intangible assets, requiring the asset to be carried at cost less any accumulated amortisation and accumulated
impairment losses.
Amortisation and impairment charge for the period
Computer software
Total amortisation for the period
As at 30 June 2023 there were no indications of impairment to intangible assets.
2023
2022
$'000
$'000
291
291
291
291
The department held no goodwill or intangible assets with an indefinite useful life during the reporting period. At the end of the reporting period there were no intangible
assets not yet available for use.
Amortisation of finite life intangible assets is calculated on a straight line basis at rates that allocate the asset's value over its estimated useful life. All intangible assets
controlled by the department have a finite useful life and zero residual value. Estimated useful lives are reviewed annually.
The estimated useful life for the following intangible asset class is:
Computer software (a)
5 years
a) Computer software that is not integral to the operation of any related hardware.
Impairment of intangible assets
Intangible assets with indefinite useful lives are tested for impairment annually or when an indication of impairment is identified.
The policy in connection with testing for impairment is outlined in note 5.1.1. 'Depreciation and impairment charge for the period'.
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