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Financial reporting mainly refers to the communication of financial information, like financial statements, statement of comprehensive income, balance sheet, statement of cash flows, and statement of stockholders' equity to users like investors and creditors. Financial reporting is typically viewed as companies issuing financial statements. Financial Reporting is a very important and critical task of an organization and it is a vital part of Corporate Governance.
Financial reporting test helps recruiters & hiring managers to assess a candidate's ability to prepare various financial reports. A financial reporting knowledge test is designed by experienced subject matter experts (SMEs) to evaluate and hire a financial reporting manager as per the industry standards.
Why use Interview Mocha’s financial reporting test?
This financial reporting test helps employers in many ways, including hiring a job-fit candidate within a short period, taking unbiased employee performance appraisal decisions and reduce hassle in mass recruitment. You can reduce hiring time up to 40% with a financial reporting knowledge test.
Financial reporting interview test helps to screen the candidates who possess traits as follows:
Experience in handling budgeting, forecasting and managing actual performance
Ability to review, analyze and evaluate financial data and information for accuracy, consistency and transparency
Ability to ensure financial transactions are compliant with the U.S. generally accepted accounting principles
Good working knowledge of software/database system used in financial reporting/consolidation
Financial reporting test has powerful reporting feature which will help you get an instant result and an option to share this result with your recruiting team. You can analyze section wise performance of candidate to gauge his strengths and weaknesses. Features like window violation and webcam proctoring help detect cheating during the test.
Financial reporting quiz test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.
This Financial Reporting Test is useful for hiring
Anthony Corporation’s common stock price has a market value of $40 and a put and call on this stock is trading at a strike price of $35. Which statement about put and call is the most accurate?
Wates followed the LIFO method to record inventory in the book of accounts. The company proposes to change the method of recording inventory from LIFO to FIFO while a few analysts start discussing the effect of this change on the financial statements of Wates. The following statements are made by the analysts:
Parker: Financial statements will be restated as per FIFO balances with a retrospective amendment.
Michael: Financial statements will be restated as per FIFO balances with a prospective amendment.
Sam: There will be no effect on the financial statements.