i havent looked the abs accounts at all but generally regarding...

i havent looked the abs accounts at all but generally regarding licenses:
licenses are intangible assets. it would breach the acc standards if it was incorrectly capitalised (put on the balance sheet) or was overstated, thereby overstating total assets.

ratios based around total assets are commonly used for covenants and other contractual r/ships.

http://www.aasb.gov.au/admin/file/content105/c9/AASB138_07-04_COMPapr07_07-07.pdf

refer somewhere in aasb138 intangible assets.