Expense Depreciation and Amortisation Amount Depreciation is the diminution in value of a fixed asset due to wear and tear or obsolescence over its useful life. In the case of an intangible asset, the term 'amortisation' is generally used instead of 'depreciation'. Amortisation of Intangible Assets Finite life An intangible asset with a finite useful life is systematically amortised over its useful life from the time that it is available for use until it is either derecognised or classified as held for sale in accordance with International Financial Reporting Standards (IFRS) 5 Non-current assets held for sale and discontinued operations. The amortisation period and method must be reviewed at least at the end of each reporting period and changes are accounted for as changes in accounting estimates (see International Accounting Standards [IAS] 8 Accounting policies, changes in accounting estimates and errors). The residual value is assumed to be zero unless there is: - a commitment by a third party to purchase the asset at the end of its useful life, or - an active market for the asset in which its residual value can be determined and it is probable that such a market will exist at the end of the asset's useful life. Indefinite life An intangible asset with an indefinite useful life shall not be amortised. Instead, such intangible assets are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired in accordance with IAS 36 Impairment of assets. An asset is regarded as having an indefinite useful life when, based on an analysis of all the relevant factors, there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity. The useful life shall be reviewed annually to determine whether circumstances continue to support an indefinite useful life assessment. If a change is required to a finite useful life, the change in estimate shall be accounted for in accordance with IAS 8. A finance lease may have depreciation/amortisation expenses associated with it. A Financial Lease is a contract between lessor and lessee whereby the lessor purchases a good that is put at the disposal of the lessee and the lessee pays rentals that enable the lessor, over the period of the contract, to cover all, or virtually all, costs, including interest; all the risks and rewards of ownership are, de facto, transferred from the legal owner of the good (the lessor) to the user of the good (the lessee). Includes: (for lessees only) - Depreciation/amortisation expenses in respect of finance leases. Excludes: (for lessors only) - Depreciation/amortisation expenses in respect of finance leases. Expense Reversals Of Provisions Other Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Foreign Exchange Differences Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Available For Sale Financial Assets Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Cash Flow Hedges Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Adjustments On Cash Flow Hedges For Amounts Transferred To Initial Carrying Amount Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Foreign Exchange Before Reclassification Adjustments Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Foreign Exchange Differences Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Remeasuring Available For Sale Financial Assets Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Available For Sale Financial Assets Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Cash Flow Hedges Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Foreign Exchange Before Reclassification Adjustments Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Function Other Amount Expenses by function not classified elsewhere Expense Nature Other Amount Expenses by nature not classified elsewhere Expense Exploration And Evaluation Mineral Resources Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Exploration And Evaluation Mineral Resources Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Financial Performance 1