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