In this activity you will need to match column B with column A. The notes you made on the types of financial reports will come in handy in completing this activity.

QuestionSelected MatchInternal reports

J.

Reports that focus on the performance against the approved budget as well as against service delivery plans and alert managers to take remedial action where necessary

External reports

N.

Reports that provide information to assist interested parties in monitoring the performance of public institutions to determine whether available resources have been utilised in accordance with approved budget and business plans

Interim reports

O.

Compiled daily, weekly, monthly, or quarterly, depending on management need for financial information or statutory requirements. They are referred to as management information or interim reportsPerformance reports

L.

It provides the users with information concerning the source and application of all financial resources during the period concerned

Financial statements

G.

It illustrates the financial position of an institution at a specific time and can be considered as a snapshot of the financial position at a particular moment in timeIncome statement

H.

A set of accounting reports which, taken together, describe the financial position of an institution and the results of its recent operationsBalance sheet

G.

It illustrates the financial position of an institution at a specific time and can be considered as a snapshot of the financial position at a particular moment in timeCash-flow statement

E.

Consolidated financial statements prepared each year in accordance with generally recognised accounting practice (GRAP)Annual reporting

C.

Annual report and the accompanying audited financial statements submitted by the executives to the National Assembly or provincial legislatureReporting by accounting officers

B.

The officer must submit an annual report on the activities of the institution as well as the audited financial statements and the Auditor-Generals report on them to the relevant treasury and executive authority (minister) within five months of financial year endReports by the Auditor-General

A.

Consolidated reports of accounting officers, the Auditor-General, executive authorities, as well as the various treasuriesReporting by the executive authority

C.

Annual report and the accompanying audited financial statements submitted by the executives to the National Assembly or provincial legislatureReporting by the National Treasury and provincial treasuries

I.

Section 40(4) of the PFMA requires the accounting officer to submit information on the actual revenue and expenditure for the preceding month as well as the amounts anticipated for that month, to the relevant treasury and the executive authority within 15 days after the end of each month.Monthly reports

J.

Reports that focus on the performance against the approved budget as well as against service delivery plans and alert managers to take remedial action where necessary

Ad hoc reports

D.

Reports of the audit of financial statements submitted by the accounting officer of a government department, trading entity, or constitutional institution, which are based on the provision of s 40(1) of the PFMA