Page 133 - Mono Technology Public Company Limited : Annual Report 2013

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 the 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 useful lives is as follows:
Useful lives
Films, music and video copyright 5 years or contract period
Other copyright 3, 5 years or contract period

Computer software 5, 10, 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 Company and its subsidiaries’ operations.

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 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 the income statement on a straight line basis over the lease term.

4.10 Foreign currencies
The consolidated and separate financial statements are presented in Baht, which is also
the Company’s functional currency. Items of each entity included in the consolidated financial

statements of each entity are measured using the functional currency of that entity.

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