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50NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2. Significant accounting policies (continued)y) Intangible assets (continued)Intangible assets with indefinite lives are not amortized, but are tested for impairment annually either individually or at the cash generating level. The assessment of indefinite life is reviewed annually, to determine whether the indefinite life continues to be supportable, if not, the change in useful live from indefinite to finite is made on a prospective basis.Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the income statement when the asset is derecognized.z) Comparative informationWhere necessary, certain changes in presentation of comparative information have been made in these financial statements. These changes had no effect on the net assets or operating results of the previous year.Guardian_Media_Annual_Report2012.indd 50 4/17/13 7:31 PM