IOOF  | Annual Report 2012 (iii) Depreciation (f)  Intangible assets (i) Goodwill (ii) Other intangible assets (iii) Subsequent expenditure (iv) Amortisation Financial assets measured at amortised cost (i) Non-derivative financial assets (h) Impairment (g) Leased assets •  adviser relationships 5 - 10 years •  computer software 2½ - 4 years •  customer relationships 10 - 20 years •  brand names 20 years •  contract agreements 9 - 10 years  estimated useful lives for the current and comparative years  are as follows: Depreciation is recognised in profit or loss on a straight-line  basis over the estimated useful lives of each component  of an item of property and equipment. Leased assets are  depreciated over the shorter of the lease term and their useful  lives unless it is reasonably certain that the Group will obtain  ownership by the end of the lease term. Items of property and equipment are depreciated from the  date that they are installed and are ready for use, or in respect  of internally constructed assets, from the date that the asset is  completed and ready for use. The estimated useful lives for the current and comparative year  are as follows: Depreciation methods, useful lives and residual values are  reviewed at each reporting date, and adjusted if appropriate.  Goodwill that arises upon the acquisition of subsidiaries is  included in intangible assets. For the measurement of goodwill  at initial recognition, see note 3(a)(i) Business combinations. Subsequent measurement A financial asset not carried at fair value through profit or loss  is assessed at each reporting date to determine whether there  is objective evidence that it is impaired. A financial asset is  impaired if objective evidence indicates that a loss event has  occurred after the initial recognition of the asset, and that the  loss event had a negative effect on the estimated future cash  flows of that asset that can be estimated reliably. Goodwill is measured at cost less accumulated impairment  losses. In respect of equity-accounted investees, the carrying  amount of goodwill is included in the carrying amount the  investment, and any impairment loss is allocated to the  carrying amount of the equity accounted investee as a whole. Other intangible assets that are acquired by the Group and  have finite useful lives are measured at cost less accumulated  amortisation and accumulated impairment losses. Subsequent expenditure is capitalised only when it increases  the future economic benefits embodied in the specific asset to  which it relates. All other expenditure, including expenditure  on internally generated goodwill and brands, is recognised in  profit or loss as incurred. Amortisation is recognised in profit or loss on a straight-line  basis over the estimated useful lives of intangible assets, other  than goodwill, from the date that they are available for use. The  An impairment loss in respect of a financial asset measured  at amortised cost is calculated as the difference between its  carrying amount and the present value of the estimated future  cash flows discounted at the asset’s original effective interest  rate. Losses are recognised in profit or loss and reflected as  an allowance account against loans and receivables. Interest  page 65 Objective evidence that financial assets (including equity  securities) are impaired can include default or delinquency by a  debtor, restructuring of an amount due to the Group on terms  that the Group would not consider otherwise, indications that  a debtor or issuer will enter bankruptcy, adverse changes in the  payment status of borrowers or issuers in the Group, economic  conditions that correlate with defaults or the disappearance of  an active market of a security. In addition, for an investment in  an equity security, a significant or prolonged decline in its fair  value below its cost is objective evidence of impairment. Other leases are operating leases and are not recognised in the  Group’s statement of financial position. Leases in terms of which the Group assumes substantially all  the risks and rewards of ownership are classified as finance  leases. Upon initial recognition the leased asset is measured at  an amount equal to the lower of its fair value and the present  value of the minimum lease payments. Subsequent to initial  recognition, the asset is accounted for in accordance with the  accounting policy applicable to that asset. Amortisation methods, useful lives and residual values are  reviewed at each reporting date and adjusted if appropriate. •  office equipment 3-10 years •  leasehold improvements 3-10 years •  equipment under finance lease 3-10 years