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The following information relating to the financial years ended 31 December \\( 20 \\times 9 \\) and \\( 20 \\times 8 \\) are detailed as follows: (1) Other investments comprise quoted shares bought several years ago. These financial assets are accounted for at fair value through profit or loss. No quoted shares were bought or sold during \\( 20 \\times 9 \\). (2) Property, plant and equipment is accounted for using the cost model. Vehicles with a historical cost of \\( \\$ 83,000 \\) and accumulated depreciation of \\( \\$ 38,000 \\) were disposed of for \\( \\$ 50,000 \\) during \\( 20 \\times 9 \\). (3) Intangible assets are accounted for using the cost model. No intangible assets were disposed of during \\( 20 \\times 9 \\). (4) During 20x9, depreciation and amortisation charge were \\( \\$ 225,000 \\) and \\( \\$ 61,000 \\) respectively. (5) 'Other income' includes gain on disposal of vehicles as well as fair value gain and dividends received from other investments. (6) Interest payable (included under 'Trade and other payables') as of 31 December \\( 20 \\times 9 \\) and \\( 20 \\times 8 \\) is \\( \\$ 5,000 \\) and \\( \\$ 3,000 \\) respectively. (7) Borrowings amounting to \\( \\$ 320,000 \\) was repaid during \\( 20 \\times 9 \\). Question 1 - (a) and (b) The Statement of Financial Position of Delta Pte Ltd for the financial years ended 31 December 20x9 and \\( 20 \\times 8 \\) as well as the Statement of Profit or Loss for the financial Question 1 required: (a) Prepare the Statement of Cash Flows for Delta Pte Ltd for the financial year ended 31 December 20x9 in accordance with Singapore Financial Reporting Standard (International) (SFRS(I)) 1-7 Statement of Cash Flows. You are required to use the indirect method when preparing the operating cash flows section. Show all necessary workings. (25 marks) (b) Describe the mandate of the Accounting Standards Council Singapore in relation to the standard setting process