Sample Disclosure – Accounting Policy Of Intangible Assets, Timber Rights (11 February 2011)

Intangible assets – timber rights

This represents the exclusive rights acquired by the Company to extract and purchase all commercial timber logs extractable from a designated timber concession area.

Timber rights are stated at cost less accumulated amoritsation and impairment loss, if any.

The timber rights are amortised on the basis of the volume of timber logs extracted during the financial year as a proportion of the total estimated timber logs extractable over the remaining period of timber extraction.