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AFRICAN DAWN 2015 Annual Report

Notes to the Financial Statements continued AFRICAN DAWN 72 ANNUAL REPORT 2015 4. Goodwill (continued) No impairment was necessary. With regard to Knife Capital • The recoverable amount calculated based on value in use exceeded the carrying amount by R4 886 029. • An annual revenue growth rate of 7%, annual operating costs growth rate of 14% or a rise in discount rate to 29% would, all changes taken in isolation, result in the recoverable amount being equal to the carrying amount. With regard to Grindstone • The recoverable amount calculated based on value in use exceeded the carrying amount by R1 511 697. • An annual revenue growth rate of 7%, annual operating costs growth rate of 11% or a rise in discount rate to 42% would, all changes taken in isolation, result in the recoverable amount being equal to the carrying amount. 2015 2014 Cost Accumulated depreciation and impairment Carrying amount Cost Accumulated depreciation and impairment Carrying amount R ‘000 R ‘000 R ‘000 R ‘000 R ‘000 R ‘000 Group Micro finance software 1,709 (562) 1,147 1,709 (220) 1,489 Medical finance software 1,355 (1,355) - 1,355 - 1,355 Contractual customer contracts on acquisition of Knife Capital Group 6,543 (1,211) 5,332 - - - Total 9,607 (3,128) 6,479 3,064 (220) 2,844 2013 Cost Accumulated depreciation and impairment Carrying amount Group Micro finance software 829 (10) 819 Medical finance software 973 - 973 Contractual customer contracts on acquisition of Knife Capital Group - - - Total 1,802 (10) 1,792 Reconciliation of intangible assets - Group - 2015 Opening balance Additions through business combinations Amortisation Impairment Closing balance R ‘000 R ‘000 R ‘000 R ‘000 R ‘000 Micro finance software 1,489 - (342) - 1,147 Medical finance software 1,355 - (205) (1,150) - Contractual customer contracts on acquisition of Knife Capital Group - 6,543 (1,211) - 5,332 2,844 6,543 (1,758) (1,150) 6,479 5. Intangible assets


AFRICAN DAWN 2015 Annual Report
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