Questions

The closet point in the Moon's orbit to Earth is called perigee whereas the farthest point in the Moon's orbit to Earth is called apogee.

The Earth has four major systems or spheres. These systems are

 1. The geosphere,

 2. The hydrosphere,

 3. The atmosphere, and 

4. The biosphere.

The biosphere is the system where we belong.

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.

This section identifies and describes the five Project Management Process Groups required for any project. These five process Groups have clear dependencies and are performed in the same sequence on each project.

The five Process Groups are :

Initiating  Process Group - Defines and authorizes the project or a project phase

Planning Process Group - Defines and refines objectives, and plans the course of action required to attain the objectives and scope that the project was undertaken to address.

Executing Process Group - Integrates people and other resources to carry out the project management plan for the project

Monitoring and Controlling process Group - Regularly measures and monitors progress to identify variances from the project management plan so that corrective action can be taken when necessary to meet project objectives.

Closing Process Group - Formalizes acceptance of the product, service or result and brings the project or a project phase to an orderly end.

I. Inputs

• Quality management plan


• Quality metrics


• Process improvement plan 


• Work performance information 


• Approved change requests


• Quality control measurements 


• Implemented change requests


• Implemented corrective actions 


• Implemented defect repair


• Implemented preventive actions 

II. Tools and Techniques

• Quality planning tools and techniques


• Quality audits


• Process analysis 


• Quality control tools and techniques

III. Outputs

• Requested changes


• Recommended corrective actions


• Organizational process assets (updates)


• Project management plan (updates)