NSE Annual Reports - The Nigerian Stock Exchange

NOTES TO THE CONSOLIDATED AND SEPARATEFINANCIAL STATEMENTS (CONT’D)FOR THE YEAR ENDED 31 DECEMBER 201212 Intangible assets(a)The Group(b)PurchasedsoftwareIn thousands of naira GoodwillTotalCostBalance as at 1 January 2011 61,784 1,703,309 1,765,093Acquisitions - 6,266 6,266Transfers/write-offs --Balance as at 1 January 2012 61,784 1,709,575 1,771,359Acquisitions - 8,498 8,498Transfers/write-offs - (3,304) (3,304)Balance at 31 December 2012 61,784 1,714,769 1,776,553Amortization and impairment lossesBalance as at 1 January 2011 57,148 778,978 836,126Amortization for the year - 340,398 340,398Balance as at 1 January 2012 57,148 1,119,376 1,176,524Amortization for the year - 340,228 340,228Balance at 31 December 2012 57,148 1,459,604 1,516,752Carrying amountsAt 1 January 2011 4,636 924,331 928,967At 1 January 2012 4,636 590,199 594,835At 31 December 2012 4,636 255,165 259,80112 Intangible assetsThe ExchangeIn thousands of nairaCostPurchasedsoftwareBalance as at 1 January 2011 1,703,309 1,703,309Acquisitions 6,266 6,266Balance as at 1 January 2012 1,709,575 1,709,575Acquisitions 5,844 5,844Transfers/write-offs (3,304) (3,304)Balance at 31 December 2012 1,712,115 1,712,115Amortization and impairment lossesBalance as at 1 January 2011 778,978 778,978Amortization for the year 340,398 340,398Balance as at 1 January 2012 1,119,376 1,119,376Amortization for the year 340,228 340,228Balance at 31 December 2012 1,459,604 1,459,604Carrying amountsAt 1 January 2011 924,331 924,331At 1 January 2012 590,199 590,199At 31 December 2012 252,511 252,511Total52A N N U A L R E P O R T & A C C O U N T S 2 0 1 2