Annual Report 2017-18 | Monash Health
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Notes to the Financial Statements<br />
<strong>Monash</strong> <strong>Health</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>/20<strong>18</strong><br />
Note 4.4: Intangible assets<br />
Consolidated Consolidated<br />
20<strong>18</strong> <strong>2017</strong><br />
$'000<br />
$'000<br />
Intangible Produced Assets - Software 34,088 30,<strong>18</strong>8<br />
Less Accumulated Amortisation (30,123) (26,712)<br />
Total Intangible Assets 3,965 3,476<br />
Reconciliation of the carrying amounts of intangible assets at the beginning and end of the previous<br />
and current financial year:<br />
Consolidated<br />
$'000<br />
Balance at 1 July 2016 4,912<br />
Additions 895<br />
Amortisation (refer Note 4.3) (2,331)<br />
Balance at 1 July <strong>2017</strong> 3,476<br />
Additions 3,900<br />
Amortisation (refer Note 4.3) (3,411)<br />
Balance at 30 June 20<strong>18</strong> 3,965<br />
Intangible assets represent identifiable non-monetary assets without physical substance such as<br />
computer software.<br />
Intangible assets are initially recognised at cost. Subsequently, intangible assets with finite useful<br />
lives are carried at cost less accumulated amortisation and accumulated impairment losses. Costs<br />
incurred subsequent to initial acquisition are capitalised when it is expected that additional future<br />
economic benefits will flow to <strong>Monash</strong> <strong>Health</strong>.<br />
Expenditure on research activities is recognised as an expense in the period in which it is incurred.<br />
104 <strong>Monash</strong> <strong>Health</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>-<strong>18</strong>
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