Disclosure

The financial statements should disclose the following for each class of intangible assets, distinguishing between internally generated intangible assets and other intangible assets:

• The useful lives or the amortisation rates used.
• The amortisation methods used.
• The gross carrying amount and the accumulated amortisation (aggregated with accumulated impairment losses) at the beginning and end of the period.
• A reconciliation of the carrying amount at the beginning and end of the period showing:
  • Additions, indicating separately those from internal development and through amalgamation.
  • Retirements and disposals.
  • Impairment losses recognised in the statement of profit and loss during the period.
  • Impairment losses reversed in the statement of profit and loss during the period.
  • Amortisation recognised during the period and
  • Other changes in the carrying amount during the period.

The financial statements should also disclose:

• If an intangible asset is amortised over more than ten years, the reasons why it is presumed that the useful life of an intangible asset will exceed ten years from the date when the asset is available for use. In giving these reasons, the enterprise should describe the factor(s) that played a significant role in determining the useful life of the asset.
• A description, the carrying amount and remaining amortisation period of any individual intangible asset that is material to the financial statements of the enterprise as a whole.
• The existence and carrying amounts of intangible assets whose title is restricted and the carrying amounts of intangible assets pledged as security for liabilities and
• The amount of commitments for the acquisition of intangible assets.

The financial statements should disclose the aggregate amount of research and development expenditure recognised as an expense during the period.