Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.

NOTES TO THE FINANCIAL STATEMENTS
11. COMPUTER SOFTWARE
Work in
Software progress Total
US$ US$ US$
At 1 January 2007
Cost 485,395 - 485,395
Accumulated amortisation (385,873) - (385,873)
Net book amount 99,522 99,522
Year ended 31 December 2007
Opening net book amount 99,522 - 99,522
Additions 106,483 1,055,625 1,162,108
Amortisation charge (89,355) - (89,355)
Closing net book amount 116,650 1,055,625 1,172,275
At 31 December 2007
Cost 591,878 1,055,625 1,647,503
Accumulated amortisation (475,228) - (475,228)
Net book amount 116,650 1,055,625 1,172,275
Million Riel equivalent (unaudited) 467 4,226 4,693
Year ended 31 December 2008
Opening net book amount 116,650 1,055,625 1,172,275
Additions 73,443 1,250 74,693
Transfer from Work -in-Progress 1,056,875 (1,056,875) -
Amortisation charge (116,617) - (116,617)
Closing net book amount 1,130,351 - 1,130,351
At 31 December 2008
Cost 1,722,196 - 1,722,196
Accumulated amortisation (591,845) - (591,845)
Net book amount 1,130,351 - 1,130,351
Million Riel equivalent (unaudited) 4,613 - 4,613
12. PROPERTIES FORECLOSED
The properties foreclosed are assets obtained by taking possession of collateral held as security for loans
which are in default. These assets are not held for operational purposes and will be disposed of in order to
recover the outstanding amount within the maximum allowable period of twelve months as per the
guidelines issued by the Central Bank.
Annual Report 2008 43