Page 105 - Annual Report 2019
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102 ANNUAL REPORT 2019 QFC REGULATORY AUTHORITY FINANCIAL STATEMENTS
Statement of Cash Flows
For the year ended 31 December 2019
OPERATING ACTIVITIES Notes 2019 | USD ‘000 2018 | USD ‘000
Excess of income over expenses for the year before appropriations 16,907 (35,948)
Adjustments for:
Depreciation of furniture and equipment 4 52 163
Depreciation of right-of-use asset 6 134 -
Amortisation of intangible assets 5 405 410
(Reversal)/allowance for expected 8 (5) 10
credit losses of short-term deposits
Provision for employees’ end of service benefits 1,568 1,412
Interest income (940) (800)
Finance cost 12 11
18,133 (34,742)
Working capital changes:
Accounts receivable and prepayments (56,975) 460
Accounts payable and accruals 984 (753)
Cash flows used in operating activities (37,858) (35,035)
*The attached notes 1 to 19 form part of these financial statements.
