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73GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 20156. Intangible assets (continued)GoodwillIn accordance with IFRS 3, goodwill arising from the acquisition of the Trinidad Broadcasting Company Limited and Prime Radio Limited in 1998 was reviewed for impairment at year end. Based on the results of this review no impairment expense was required.The following highlights the information used in the impairment testing of goodwill for the cash generating unit:-Basis for recoverable amount Value in useDiscount rate 15%Cash fow projection term Five years and into perpetuityGrowth rate (extrapolation period) 1%The recoverable amount of the cash generating unit was determined using the %u201cvalue in use%u201d method. These calculations use pre-tax cash-fow projections based on fnancial budgets approved by management. The discount rates used are pre-tax and refect the specifc risk relating to the cash-generating unit.Computer softwareIntangible assets also include the internal development cost arising from the Microsoft Great Plains project which was recognised at fair value at the capitalisation date. Subsequent to initial recognition, computer software is carried at cost less amortisation and impairment losses where necessary, and is expected to have a fnite life not exceeding 5 years.(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)