Landcorp - Crown Ownership Monitoring Unit

Note 27 – Intangible AssetsGroup Group Parent Parent2010 2009 2010 2009Note $000 $000 $000 $000Carbon CreditsFair ValueOpening balance – – – –Additions 777 – 777 –Net Carrying Amount 777 – 777 –Computer SoftwareCostOpening balance 3,243 2,974 3,243 2,974Additions 281 269 281 269Disposals (683) – (683) –Closing balance 2,841 3,243 2,841 3,243Accumulated AmortisationOpening balance (1,016) (466) (1,016) (466)Amortisation 16 (695) (550) (695) (550)Disposals 372 – 372 –Closing balance (1,339) (1,016) (1,339) (1,016)Net Carrying Amount 1,502 2,227 1,502 2,227Total Intangible Assets 2,279 2,227 2,279 2,227Landcorp’s intangible assets comprise carbon credits received under the Emissions Trading Scheme and farm management and financeinformation systems.Landcorp has commenced entering its eligible post-1989 forests into the Emissions Trading Scheme. During 2009/10 Landcorp earned42,434 New Zealand Units on 877 registered hectares. Landcorp has not yet received any carbon credits for pre-1990 forests.79