And right on cue @madamswer, Westpac announce a $115m write down on "Capitalised Software".
I haven't checked the notes to WBC's financial accounts lately, but I recall the bank having sunk something like $8bn into capitalised software (I'm not sure what the current carrying value is but it is sure to be in the several billions of dollars), which gets amortised over at a rate of close to a billion each year, if i recall.
And, as you know, with the rapid changes in technological advancement, for a CFO and the auditors of a very large institution to be able to exactly match amortisation charges with useful software life is impossible.
So for WBC to be playing some catch-up on their rate of amortisation comes as no surprise.
In fact, it happens just about every year.
It's simply the nature of the imperfect beast that is amortisation deeming.
.
- Forums
- ASX - By Stock
- Undervalue?
And right on cue @madamswer, Westpac announce a $115m write down...
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SWF (ASX) to my watchlist
(20min delay)
|
|||||
Last
14.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $32.51M |
Open | High | Low | Value | Volume |
14.0¢ | 14.0¢ | 14.0¢ | $12.56K | 89.78K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 41884 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 120013 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 41884 | 0.130 |
3 | 23942 | 0.125 |
3 | 84194 | 0.120 |
1 | 3000 | 0.115 |
2 | 254545 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 120013 | 6 |
0.145 | 186000 | 6 |
0.150 | 455275 | 6 |
0.155 | 359503 | 3 |
0.160 | 11200 | 2 |
Last trade - 10.26am 27/08/2024 (20 minute delay) ? |
Featured News
SWF (ASX) Chart |