AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 53 4. Goodwill 2017 R’000 Cost Accumulated impairment Carrying amount Goodwill 8,076 (3,397) 4,679 Opening balance Impairment Closing balance Reconciliation of goodwill Group 2017 R’000 8,076 (3,397) 4,679 2016 R’000 Cost Accumulated impairment Carrying amount Goodwill 8,076 - 8,076 Opening balance Impairment Closing balance Reconciliation of goodwill Group 2016 R’000 8,076 - 8,076 Goodwill impairment Impairment test for goodwill During 2015, goodwill of R8,076 million arose on the acquisition of the Knife Capital Group (refer to note 1.18) and has been allocated to the cash-generating units (CGUs) as follows: 2017 R’ 000 Opening Additions Disposals Impairment Closing Knife Capital 7,133 - - (3,397) 3,736 Grindstone 943 - - - 943 8,076 - - (3,397) 4,679 2016 R’ 000 Opening Additions Disposals Impairment Closing Knife Capital 7,133 - - - 7,133 Grindstone 943 - - - 943 8,076 - - - 8,076
AFRICAN DAWN 2017
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