Page 318 - ACCESS BANK ANNUAL REPORTS_eBook

29. Intangible Assets

Group
Goodwill WIP Purchased Total
In thousands of Naira
Software
Cost
December 2017
Balance at 1 January 2017 681,007 286,724 14,858,925 15,826,656
Acquisitions - 881,374 2,573,350 3,454,724
Transfer - (55,155) 55,155 -
Write off - - (66,985) (66,985)
Translation difference - 535,236 535,236
Balance at 31 December 2017 681,007 1,112,943 17,955,681 19,749,631

December 2016
Balance at 1 January 2016 681,007 - 12,060,445 12,741,452
Acquisitions - 286,724 2,250,300 2,537,024
Transfer - - 322,529 322,529
Write off - - (54,460) (54,460)
Translation difference - - 280,111 280,111
Balance at 31 December 2016 681,007 286,724 14,858,925 15,826,656

Amortization and impairment losses
Balance at 1 January 2017 - - 8,887,101 8,887,101
Write off - - (66,985) (66,985)
Amortization for the year - - 2,407,886 2,407,886
Translation difference - - 225,774 225,774
Balance at 31 December 2017 - - 11,453,776 11,453,776

Balance at 1 January 2016 - - 6,294,951 6,294,951
Amortization for the year - - 2,186,905 2,186,905
Translation difference - - 405,245 405,245
Balance at 31 December 2016 - - 8,887,101 8,887,101

Net Book Value
Balance at 31 December 2017 681,007 1,112,943 6,501,905 8,295,855
Balance at 31 December 2016 681,007 286,724 5,971,824 6,939,555

WIP Purchased Total
In thousands of Naira Software
Bank
December 2017
Balance at 1 January 2017 231,569 12,167,422 12,398,991
Acquisitions 881,374 1,873,348 2,754,722
Write off - (66,985) (66,985)
Balance at 31 December 2017 1,112,943 13,973,785 15,086,728

December 2016
Balance at 1 January 2016 - 10,348,678 10,348,678
Acquisitions 231,569 1,818,744 2,050,313
Balance at 31 December 2016 231,569 12,167,422 12,398,991

Amortization and impairment losses
Balance at 1 January 2017 - 7,225,207 7,225,207
Amortization for the year - 1,946,601 1,946,601
Write off - (66,985) (66,985)
Balance at 31 December 2017 - 9,104,823 9,104,823

318 Access BAnk Plc
Annual Report & Accounts 2017