How reconciliation of bank statements relate to working capital?
How can shareholders/members/owners or stakeholders benefit if they
understand reconciliation of bank statement?
Finance management function relate to reconciliation of bank statements?

What a funny question!

I've never heard of any such thing.

The reconciliation of bank statements with a business's cash balances
is a trivial, routine exercise that really only interests the
accountants and auditors.

Yes, it needs to be done and regularly but it has absolutely nothing
to do with working capital, the investors or anyone else.

This sounds like a question posed by some half-baked teacher who
doesn't know his/her arse from his/her elbow.

Please tell him/her so - with my compliments.

Also please tell him/her that I am one of the world's most brilliant accountants.

(Not joking.)