Bank PO Questions

Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. These stakeholders include – investors, creditors, public, debt providers, governments & government agencies.

Financial Reporting is very important and critical task of an organization. It is vital part of Corporate Governance.

The objectives & purposes of financial reporting :–

* Providing information to management of an organization which is used for the purpose of planning, analysis, benchmarking and decision making.

* Providing information to investors, promoters, debt provider and creditors which is used to enable them to male rational and prudent decisions regarding investment, credit etc.

* Providing information to shareholders & public at large in case of listed companies about various aspects of an organization.

* Providing information about the economic resources of an organization, claims to those resources (liabilities & owner’s equity) and how these resources and claims have undergone change over a period of time.

* Providing information as to how an organization is procuring & using various resources.

* Providing information to various stakeholders regarding performance management of an organization as to how diligently & ethically they are discharging their fiduciary duties & responsibilities.

* Providing information to the statutory auditors which in turn facilitates audit.

* Enhancing social welfare by looking into the interest of employees, trade union & Government.

Till now, upto 2019 89 budgets are presented in Parliament.

A genus can best be defined as a taxon composed of one or more species and a classification level lying below family.

The number of protons in an isotope or an atom gives its atomic number whereas the number of protons and neutrons gives its mass number.

The medicinal branch of science that deals with the study of skin, hair and nails, their structure, functions and its diseases is called as Dermatology and the person who specializes in that is called as Dermatologist.

Rashid Khan a bowler from Afghanistan, has become the first-ever bowler in T20I history to pick 4 wickets in 4 balls.

NASA's spacecraft "JUNO"is sent for Jupiter mission.