Investor Presentaiton
Department of Health
Notes to the financial statements
For the year ended on 30 June 2023
5.2
Intangible assets (continued)
Contents
Year ended 30 June 2022
1 July 2021
Gross carrying amount
Accumulated amortisation
Carrying amount at start of period
Additions
Capitalised
Disposals
Expensed
Amortisation expense
Carrying amount at 30 June 2022
Gross carrying amount
Accumulated amortisation
Initial recognition
Computer software
$'000
Works in progress
Total
$'000
$'000
1,454
186
1,640
(97)
(97)
1,357
186
1,543
131
131
(283)
(283)
(291)
(291)
1,066
34
1,100
1,454
34
1,488
(388)
(388)
Intangible assets are initially recognised at cost. For assets acquired at no cost or for nominal cost, the cost is their fair value at the date of acquisition.
Acquisitions of intangible assets costing $5,000 or more and internally generated intangible assets costing $50,000 or more that comply with the recognition criteria as per
AASB 138.57 (as noted below), are capitalised.
Costs incurred:
. below these thresholds are immediately expensed directly to the Statement of Comprehensive Income
•
in the research phase of a project are immediately expensed
An internally generated intangible asset arising from development (or from the development phase of an internal project) is recognised if, and only if, all of the following are
demonstrated:
. the technical feasibility of completing the intangible asset so that it will be available for use or sale
●
an intention to complete the intangible asset, and use or sell it
•
the ability to use or sell the intangible asset
•
the intangible asset will generate probable future economic benefit
•
the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset
the ability to measure reliably the expenditure attributable to the intangible asset during its development.
About us
< 164 >
Significant issues Report on operations Agency performance Operational disclosures ⚫Key performance indicators Financial disclosures and compliance • AppendixView entire presentation