b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)m. Intangible assets(i) Financial assetsIntangibleassetsacquiredseparatelyaremeasured Initial recognition and measurementoninitialrecognitionatcost.Thecostofintangibleassetsacquiredinabusinesscombinationistheir Financialassetsareclassified,atinitialfairvalueasatthedateofacquisition.Following recognition,assubsequentlymeasuredinitialrecognition,intangibleassetsarecarried atamortizedcost,fairvaluethroughotheratcostlessaccumulatedamortizationand comprehensiveincome(OCI),andfairvalueaccumulatedimpairmentlosses,ifany.Internally throughprofitorloss.generatedintangibleassets,excludingcapitalized Theclassificationoffinancialassetsatinitialdevelopmentcosts,arenotcapitalized.Instead, recognitiondependsonthefinancialassetstherelatedexpenditureisrecognizedinthe contractualcashflowcharacteristicsandtheconsolidatedstatementofprofitorlosswhenitis Groupsbusinessmodelformanagingthem.incurred.Theusefullivesofintangibleassetsareassessedaseitherfiniteorindefinite.Intangible Exceptfortradereceivables,forwhichtheGroupassetswithfinitelivesareamortizedovertheir hasappliedthepracticalexpedient,theGroupuseful economic lives and assessed for impairmentinitiallymeasuresafinancialassetatitsfairvaluewhenever there is an indication that the intangibleplus,inthecaseofafinancialassetnotatfairasset may be impaired.valuethroughprofitorloss,transactioncosts.Theamortizationperiodandtheamortization TradereceivablesforwhichtheGrouphasappliedmethodforanintangibleassetwithafiniteuseful the practical expedient are measured at the life are reviewed at least at the end of eachtransaction price determined under IFRS 15. Refer reporting period. Changes in the expected usefulto the accounting policies in section (e) Revenue life or the expected pattern of consumption offrom contracts with customers. futureeconomicbenefitsembodiedintheassetareaccountedforbychangingtheamortization Forafinancialassettobeclassifiedandmeasuredperiodormethod,asappropriate,andaretreated atamortizedcostorfairvaluethroughOCI,itas changes in accounting estimates.needstogiverisetocashflowsthataresolelyTheamortizationexpenseonintangibleassets paymentsofprincipalandinterest(SPPI)onthewithfinitelivesisrecognizedintheconsolidated principalamountoutstanding.Thisassessmentisstatementofprofitorlossintheexpensecategory referred to as the SPPI test and is performed at an consistent with the function of the intangibleinstrument level. assets.Intangibleassetswithindefiniteusefullives TheGroupsbusinessmodelformanagingarenotamortized,butaretestedforimpairment financialassetsreferstohowitmanagesitsannually,eitherindividuallyoratthecash- financialassetsinordertogeneratecashflows.generatingunitlevel.Theassessmentofindefinite Thebusinessmodeldetermineswhethercashlife is reviewed annually to determine whether theflowswillresultfromcollectingcontractualcashindefinitelifecontinuestobesupportable.Ifnot, flows,sellingthefinancialassets,orboth.thechangeinusefullifefromindefinitetofiniteis made on a prospective basis. Gains or lossesSubsequent measurementarisingfromde-recognitionofanintangibleassetare measured as the difference between the netForpurposesofsubsequentmeasurement,disposal proceeds and the carrying amount offinancialassetsareclassifiedinfourcategories:theassetandarerecognizedintheconsolidated Financialassetsatamortizedcost(debtstatementofprofitorlosswhentheassetis instruments);derecognized.n. Financial instrumentsinitial recognition Financial assets at fair value through OCI with and subsequent measurementrecycling of cumulative gains and losses (debt instruments);Afinancialinstrumentisanycontractthatgives Financial assets designated at fair value through risetoafinancialassetofoneentityandafinancial OCI with no recycling of cumulative gains and liabilityorequityinstrumentofanotherentity. lossesuponderecognition(equityinstruments);Financialassetsatfairvaluethroughprofitorloss44 STAATSOLIE 2018 ANNUAL REPORT'