FASSET ANNUAL REPORT

7. Intangible assets

2021

2020

Cost / Valuation

Accumulated amortisation and accumulated impairment

Carrying value

Cost / Valuation

Accumulated amortisation and accumulated impairment

Carrying value

Computer software

574

(385)

189

445

(170)

275

Intangible assets under development

1 067

-

1 067

-

-

-

Total

1 641

(385)

1 256

445

(170)

275

Reconciliation of intangible assets - 2021

Opening balance

Additions Amortisation

Total

Computer software

275

130

(216)

189

Intangible assets under development

-

1 067

-

1 067

275

1 197

(216)

1 256

Reconciliation of intangible assets - 2020

Opening balance

Additions Amortisation

Total

Computer software

157

251

(133)

275

Intangible assets in the process of being constructed or developed Cumulative expenditure recognised in the carrying value of Intangible assets Computer software, internally generated

1 067

-

FASSET is in the process of developing the cloud based system, All expenditure relating to system research phase has been expensed, All the cost incurred relating to development Phase has been capitalised according to GRAP 31.

FASSET Annual Integrated Report 2020/21

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