AFRICAN DAWN ANNUAL REPORT 2018 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2018 ** SME Snapshot software development was not yet brought into use at year end and was tested for impairment. The recoverable amount was based on fair value less cost to sell, represented by the unwinding of the transaction as referred in the events after reporting period Note 39, which did not result in an impairment. 57 Internally generated software The software is all internally generated and was specifically developed to support the unsecured and medical finance business model. Contractual customer contracts on acquisition of Knife Capital can be defined as Branded education, GAP self assessment and intervention tools, and fund management agreements. The carrying amount and remaining useful life of material intangible assets is as follows: Intangible assets Carrying amount 2018 R’000 Remaining amortization period Carrying amount 2017 R’000 Remaining amortization period Micro finance software 472 12 months 767 24 months Branded Education - 38 1 month GAP self-assessment and intervention tools - 1,793 37 months Fund management agreements - 858 37 months YueDiligence software development 207 23 months 319 35 months SME Snapshot software development** 242 ** - 921 3,775 6. Investments in subsidiaries The following table lists the entities which are controlled by the Group, either directly or indirectly through subsidiaries. The principal place of business and incorporation for all subsidiaries is South Africa. The carrying amounts of the subsidiaries are shown net of impairment losses. The carrying amounts of investments in subsidiaries were reassessed for impairment at year end and impaired as indicated.
AFRICAN DAWN 2018 Annual Report
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