❓ Hon George Cash inquires about the intellectual property assets held by Racing and Gaming agencies, their valuation, and inclusion in financial reports. The responses reveal varying practices across agencies, with some recording in-house software and logos, while others cite accounting standards for not valuing certain IP.
AnsweredQoN 418Legislative Council
QuestionView source ↗
(1) Do the respective Departments or Agencies within your portfolio maintain a current register which lists the assets comprising the Intellectual Property of the respective Departments or Agencies?
(2) If not, why not?
(3) Are these assets valued on an annual basis?
(4) If not, why not?
(5) What is the capital value of these assets?
(6) Do the assets comprising the Intellectual Property of these Departments or Agencies appear in their respective balance sheets or Annual Reports?
(7) Will you table a copy of the respective registers?
(8) If not, why not?
(2) If not, why not?
(3) Are these assets valued on an annual basis?
(4) If not, why not?
(5) What is the capital value of these assets?
(6) Do the assets comprising the Intellectual Property of these Departments or Agencies appear in their respective balance sheets or Annual Reports?
(7) Will you table a copy of the respective registers?
(8) If not, why not?
AnswerView source ↗
Answered
3 April 2003
Responded by
Minister for Racing and Gaming
Response time
29 days
(1) Yes (2) Not applicable. (3) No. (4) They are recorded at the cost of in-house development and there is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5) $1,074,968. (6) Yes. (7)&(8) Yes, however, the entries in the register only includes computer software developed in-house since 1999 at a cost of $1,074,968. (see tabled paper) Burswood Park Board (1) Yes (2) Not applicable. (3)-(8) No Intellectual Property assets are recorded in the register. The only Intellectual Property asset considered eligible to be recorded in its asset register is its logo, but as the Board has not incurred any measurable costs and no value has been assigned to the logo, to date no entry has been made in the asset register in this regard. Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
Burswood Park Board (1) Yes (2) Not applicable. (3)-(8) No Intellectual Property assets are recorded in the register. The only Intellectual Property asset considered eligible to be recorded in its asset register is its logo, but as the Board has not incurred any measurable costs and no value has been assigned to the logo, to date no entry has been made in the asset register in this regard. Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes (2) Not applicable. (3)-(8) No Intellectual Property assets are recorded in the register. The only Intellectual Property asset considered eligible to be recorded in its asset register is its logo, but as the Board has not incurred any measurable costs and no value has been assigned to the logo, to date no entry has been made in the asset register in this regard. Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
12-04-1991 - WA Bred Logo (see tabled paper)
Burswood Park Board (1) Yes (2) Not applicable. (3)-(8) No Intellectual Property assets are recorded in the register. The only Intellectual Property asset considered eligible to be recorded in its asset register is its logo, but as the Board has not incurred any measurable costs and no value has been assigned to the logo, to date no entry has been made in the asset register in this regard. Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes (2) Not applicable. (3)-(8) No Intellectual Property assets are recorded in the register. The only Intellectual Property asset considered eligible to be recorded in its asset register is its logo, but as the Board has not incurred any measurable costs and no value has been assigned to the logo, to date no entry has been made in the asset register in this regard. Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
Totalisator Agency Board (1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes. (2) Not applicable. (3) No. (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7) No. (8) The TAB regards the register as a commercially sensitive document. Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
Western Australian Greyhound Racing Authority (1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
(1) Yes (2) Not Applicable (3) No (4) The accounting standards do not require Intellectual Property assets to be brought to account that cannot be reliably measured if they have not been acquired or developed in-house at a measurable cost. There is no accounting standard that requires Intellectual Property assets to be valued on an annual basis. (5)&(6) Nil value is presently assigned to all Intellectual Property assets. (7)&(8) Yes, however, there only two entries recorded at nil value: 12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
12-01-1990 - Greyhound Logo 12-04-1991 - WA Bred Logo (see tabled paper)
12-04-1991 - WA Bred Logo (see tabled paper)
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