Public Finance Management Act [Chapter 22:19] as amended as at 28 October 2016 (b) the actual expenditure for each vote, distinguishing between capital and recurrent expenditure for that period. (2) The Accountant-General may determine— (a) the format of the statement of revenue and expenditure and the annual report; and (b) any other details that the financial statement may contain. 37 Financial statements and budgets to comply with generally accepted accounting practice The financial statements required to be prepared in terms of this Act shall be prepared in accordance with generally accepted accounting practice. 38 Publishing of reports on financial statements (1) Within thirty days after the end of each month, the Treasury shall publish in the Gazette a statement of actual revenue and expenditure with regard to the Consolidated Revenue Fund. (2) After the end of a prescribed period, but at least quarterly, every Ministry shall submit to the Treasury a statement of revenue and expenditure with regard to the Consolidated Revenue Fund, for publication in the Gazette within thirty days after the end of each prescribed period. (3) The statement shall specify the following amounts and compare those amounts in each instance with the corresponding budgeted amounts for the relevant financial year— (a) the actual revenue for the relevant period, and for the financial year up to the end of that period; and (b) the actual expenditure for each vote, distinguishing between capital and recurrent expenditure, for the relevant period, and for the financial year up to the end of that period; and (c) actual borrowing for the relevant period, and for the financial year up to the end of that period. (4) The Treasury may determine— (a) the format of the statement of revenue and expenditure and the annual report; and (b) any other details the statement may contain. PART V PUBLIC ENTITIES 39 Application of Part V Subject to section 40, this Part shall apply to public entities specified in— (a) paragraph (a) or (b) of the definition of “public entity” in section 2 that are designated by the Minister by notice in a statutory instrument for the purpose of this Act; and (b) paragraph (c) and (d) of the definition of “public entity” in section 2 that are specified by the Minister by notice in a statutory instrument for the purpose of this Act: Provided that every corporate body referred to in paragraph (a) of the definition of “public entity” in section 2, and every company referred to in paragraph (b) of that definition, which existed immediately before the date of commencement of this Act, shall be deemed to be a - 27 -