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Forest NSW Annual Report 2012

Notes to and forming part of the financial statements For the year ended 30 June 2012 Software Goodwill Total Statutory Corporation Notes $’000 $’000 $’000 Gross value at 1 July 2010   1093 - 1093 Accumulated amortisation and impairment   (119) - (119) Fair value at 1 July 2010   974 - 974           Additions   - - - Amortisation   (218) - (218) Impairment   - - - Fair value at 30 June 2011   756 - 756           Gross value at 1 July 2011   1093 - 1093 Accumulated amortisation and impairment   (337) - (337) Fair value at 1 July 2011   756 - 756           Additions   - - - Amortisation   (219) - (219) Impairment   - - - Fair value at 30 June 2012   537 - 537           Gross book value   1093 - 1093 Accumulated amortisation and impairment   (556) - (556) Fair value at 30 June 2012   537 - 537 (b) Description of the Group’s goodwill Goodwill After initial recognition, goodwill acquired in a business combination is measured at cost less any accumulated impairment losses. Goodwill is not amortised but is subject to impairment testing on an annual basis or whenever there is an indication of impairment (refer to section (c) of this note). (c) Impairment tests for goodwill Description of the cash generating units and other relevant information Goodwill acquired through business combinations has been allocated to and are tested at the level of their respective cash generating units that are both an operating segment for impairment testing. Carrying amount of goodwill allocated to each of the cash generating units The goodwill acquired through the purchase of Timber and Carbon Plantations Pty Limited was tested for impairment and written down to a nil carrying amount as at 30 June 2010. Impairment testing as at 30 June 2012 confirmed the nil carrying amount. Forests NSW Annual Report 2011–12 Social, Environmental and Economic Performance 75


Forest NSW Annual Report 2012
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