AIEEE Questions

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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.

Shivaji Maharaj was the founder of Maratha empire.

The South African leg-spinner has become the 1st-ever spinner to bowl the 1st over in a World Cup. It took place in the World Cup 2019 against England team at Oval in London where he bowled Bairstow for a DUCK.

Laterite soils are a tropical soil and possess a great amount of iron and aluminum. Due to its high iron oxide content they look like rusty-red coloration.

Glass is made from heating of sand. To melt sand to make glass, the temperature needed is above 1800 deg celcius.