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ASSETS (continued). ASSETS. INTANGIBLES. ALWAYS EXPENSE : Research costs Pre-opening costs (unless PPE) Establishment costs Training costs Advertising Relocation/restructuring Internally generated: Customer lists Brands, Mastheads, Publishing titles Goodwill. SASOL 2010. GOODWILL. - PowerPoint PPT Presentation
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Assets 1
ASSETS (continued)
TYPE DEFINITION MEASUREMENT I/S
Property, Plant & Equipment
Tangible, held for use in production etc, more than one period
Cost
or Revaluation
Dep
Dep
Investment Property
Held to earn rentals and/or capital appreciation, not owner occupied
Cost
or Fair Value
Dep
No Dep
Intangibles Identifiable non-monetary asset without physical substance
Cost
or Revaluation (unlikely)
Amort
Amort
No amort (annual impairment) if indefinite life -2005
Goodwill Cost – Net asset value on acquisition
Cost No amort (2005)
Annual impairment
Assets 2
ASSETSTYPE DEFINITION MEASUREMENT I/S
Inventory Held for sale, in process of production, materials or supplies
Lower of cost or net realisable value
FIFO, LIFO, weighted average
Cost of Sales
Non-current assets held for sale
Non-current asset or disposal group to be recovered through sale
Lower or carrying value or fair value less costs to sell
No dep
Financial Instruments
Includes cash, receivables, payables, shares, derivatives
Cost or
Fair value (all shares and derivatives)
Fair value adjustmentson derivatives & some shares
Assets 2 3
INTANGIBLESALWAYS EXPENSE:- Research costs- Pre-opening costs (unless PPE)- Establishment costs- Training costs- Advertising- Relocation/restructuring- Internally generated:
- Customer lists- Brands, - Mastheads, Publishing titles- Goodwill
Assets 2 4
Assets 2 5
SASOL 2010
Assets 2 6
Assets 2 7
GOODWILL
• Purchase price less fair value of net assets and contingent liability.
• Negative goodwill – no longer exists (since 2004). Now called ‘Bargain purchase option’ and shown as income in income statement
Assets 2 8
Assets 2 9
SPUR 2006
Assets 2 10
SPUR 2006
Assets 2 11
DISTELL 2010
Assets 2 12