ARTA Annual Report 2009 - Auckland Transport

Railway Stations and Associated Assets
Structures 20-50 years (2-5%)
Signage 3-10 years (10-33%)
Fencing 2-15 years (6.67-50%)
Plant, Machinery and Other Equipment
Cycle lockers 5 years (20%)
Furniture, fixtures and other equipment 5.5-15.5 years (6.4-18.2%)
Low value assets 1 year (100%)
Fibre optic cable 15.5 years (6.4%)
The residual values and useful lives of assets are reviewed, and adjusted if appropriate, at each balance
sheet date.
(c)
Disposals
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These are
included in the income statement.
(d)
Assets under construction
Assets under construction are not depreciated. The total cost of a project is transferred to the relevant asset
class on its completion and then depreciated.
Intangible Assets
(i)
Computer software
Acquired computer software and software licences are capitalised on the basis of the costs incurred to
acquire and bring to use the specific software. These costs are amortised over their estimated useful lives
of three to five years.
Costs associated with developing or maintaining computer software are recognised as an expense
as incurred. Costs that are directly associated with the production of identifiable and unique software
products controlled by ARTA, and that will generate economic benefits exceeding costs beyond one
year, are recognised as intangible assets. Direct costs include the software development, employee costs
and an appropriate portion of relevant overheads. Computer software development costs recognised as
assets are amortised over their estimated useful lives not exceeding three years.
89