Note 9 - Intangible Assets
Intangible assets include capitalized development costs relating to one of the Company’s products in accordance with the requirements of IAS 38, Intangible Assets, as described in Note 3E.
During 2016 the Company capitalized development costs, as detailed below. In the years 2017 and 2015 the Company did not capitalize development costs.
Presented hereunder is the movement in the carrying amount of intangible assets during the years 2017 and 2016:
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Capitalized development costs
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USD thousands
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Cost
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|
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|
|
|
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Balance as of December 31, 2017 and 2016
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2,332
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|
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|
|
|
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Amortization
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|
|
|
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Balance as of December 31, 2016
|
|
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74
|
|
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Amortization for the year ended December 31, 2017
|
|
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333
|
|
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|
|
|
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Balance as of December 31, 2017
|
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407
|
|
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|
|
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Carrying amount
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|
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December 31, 2016
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2,258
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|
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December 31, 2017
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1,925
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Amortization
The current amortization of development costs is recognized in cost of sales.
