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.

Karnataka is the largest Coffee producer state in India with more than 71% coffee in India. It is followed by Kerala, Tamilnadu and Andhra Pradesh.

Lord Cornwallis introduced the Permanent Settlement of Bengal in 1793.

The 1st Asian woman cricketer to play hundred T20I's is Sana Mir.

Sana Mir is a cricketer and the Former Captain of the Pakistan national women's cricket team in ODIs and T20Is. In October 2018, she became the first Pakistani women cricketer to rank number 1 in ICC ODI bowler ranking. She has led Pakistan to two Gold medals in Asian Games 2010 and 2014.

Indian airline INDIGO gets India’s first A321Neo plane.

Raghuram Rajan, an Indian economist is the recipient of the "Yaswantrao Chavan National Award 2018".