Page 157 - Mono Technology Public Company Limited : Annual Report 2014 EN

4.7 Intangible assets

Intangible assets are stated at cost less any accumulated amortisation and allowance for loss on
impairment of assets (if any).

Intangible assets with finite lives are amortised on a systematic basis over the economic useful life

and tested for impairment whenever there is an indication that an intangible asset may be impaired.
The amortisation period and the amortisation method of such intangible assets are reviewed at least at
each financial year end. The amortisation expense is charged to profit or loss.

A summary of the intangible assets with finite usefule lives is as follows :

Useful lives

Cost of spectrum license 15 years

Cost of website 10 years

Films, music and video copyright 5 years or contract period

Other copyright 3, 5 years or contract period
Computer software 3, 5, 20 years

Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually either

individually or at the cash generating unit level. The assessment of indefinite useful lives of the intangible
assets is reviewed annually.

4.8 Related party transactions

Related parties comprise enterprises and individuals that control, or are controlled by, the Company and
its subsidiaries, whether directly or indirectly, or which are under common control with the Company and
its subsidiaries.

They also include individuals which directly or indirectly own a voting interest in the Company and its

subsidiaries that gives them significant influence over the Company and its subsidiaries, key management
personnel, directors, and officers with authority in the planning and direction of the operations of the
Company and its subsidiaries.

4.9 Long-term leases

Leases of equipment which transfer substantially all the risks and rewards of ownership are classified as
finance leases. Finance leases are capitalised at the lower of the fair value of the leased assets and the

present value of the minimum lease payments. The outstanding rental obligations, net of finance charges,
are included in long-term payables, while the interest element is charged to profit or loss over the lease
period. The assets acquired under finance leases are depreciated over the shorter of the useful life of
the asset and the lease period.

Leases of building and equipment which do not transfer substantially all the risks and rewards of
ownership are classified as operating leases. Operating lease payments are recognised as an expense

in profit or loss on a straight line basis over the lease term.
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