tested for impairment annually either
individually or at the cash generation unit level.
Such intangible assets are not amortised. The
useful life of an intangible asset with an
indefinite life is reviewed annually to determine
whether indefinite life assessment continues to
be supportable. If not, the change in the useful
life assessment from indefinite to finite is made
on prospective basis.
assets acquired on business combination and
their useful lives are as follows:
net realisable value after making due
allowance for any obsolete and slow moving
of fixed and variable overhead expenses
incurred in bringing the inventories to their
present location and condition.
selling price for inventories less all estimated
costs of completion and costs necessary to
make the sale.
course of construction for sale are classified
as development properties. Such properties
are stated at the lower of cost or net
realisable value. The cost of development
properties includes the cost of land and other
related expenditure which are recognised as
and when activities that are necessary to get
the properties ready for sale are in progress.
Net realisable value represents the estimated
selling price less costs to be incurred in
completing and selling the property.
the Group reviews the carrying amounts of its
assets to assess whether there is an
indication that those assets may be impaired.
If any such indication exists, the Group
makes an estimate of the asset's recoverable
amount. The recoverable amount is the
higher of an asset's fair value less costs to
sell and its value in use. In assessing value
in use, the estimated future cash flows
attributable to the asset are discounted to
their present value using a pre-tax discount
rate that reflects current market assessments
of the time value of money and the risks
specific to the asset.
estimated to be less than its carrying amount,
the carrying amount of the asset is reduced to
its recoverable amount and an impairment
loss is recognised immediately in the
consolidated statement of income.
reverses, the carrying amount of the asset is
increased to the revised estimate of its
recoverable amount, but only to the extent
that the increased carrying amount does
not exceed the carrying amount that would
have been determined had no impairment
loss been recognised for the asset in prior
years. Reversal of an impairment loss is
recognised immediately in the consolidated
goodwill are not reversed.
OF FINANCIAL ASSETS
financial position date to determine whether
there is objective evidence that a specific
financial asset may be impaired.
recognised in the consolidated statement of
income. Impairment is determined as follows:
cost and fair value, less any impairment
loss previously recognised in the
consolidated statement of income.
present value of future cash flows
discounted at the current market rate of
return for a similar financial asset.
carrying amount and the present value
of future cash flows discounted at the
original effective interest rate.