Bank Exams 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.

With a positive attitude you see the bright side of life, become optimistic, and expect the best to happen. It is certainly a state of mind that is well worth developing. Not only it enriches one’s experience of life, but it also paves the way for self-development leading one towards attaining the desired results. As regards employment, it is a valuable thing to maintain positive attitude. Whether you are a manager or a subordinate, maintaining positive attitude in the work place brings lots of benefits while allowing you to fulfill your objectives successfully.
A positive frame of mind can help you in many ways, such as:
- Making you feel inspired.
- Identification.
- Believing in yourself and in your abilities.
- You look for solutions, instead of dwelling on problems.
- The most important thing is building relations.

Paying off your credit card bill most impacts your credit score.