SK Session 7 - Financial Statements & Other Reports (Quiz 2)

This statement/report is used to provide additional information about liabilities and some non-cash assets such as receivables, supplies and materials, and property and equipment

• Bank Reconciliation Statement (BRS)

• Statement of Comparison of Budget and Actual Amounts (SCBAA)

• Notes to Financial Statements (NFS)

• Report of Accountability for Accountable Forms (RAAF)

The Report of Accountability for Accountable Forms (RAAF) should be prepared by:

• SK Treasurer

• Budget Monitoring Officer

• COA Auditor

• SK Chairperson

In preparation of Bank Reconciliation Statement, the overstatement of recorded checks issued will cause the cash balance to be __________.

• Overstated

• Understated

• Either overstated or understated

• Neither overstated or understated

The SK Treasurer shall post the Quarterly Statement of Receipts and Payments in the barangay bulletin board and in at least _ _ _ _ conspicuous places within the jurisdiction of the barangay, and if possible, include the use of traditional and non-traditional media.

• 2

• 3

• 4

• 5

Failure on the part of the SK official concerned to submit the documents and reports mentioned herein shall automatically cause:

• the suspension of SK official until he/she shall have complied with the requirements of COA

• the suspension of the entire SK until they have complied with the requirements of COA

• the removal of SK official concerned until he/she have complied with the requirements of COA

• the suspension of payment of any amount due them until they have complied with the requirements of COA