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Management Information System Reports

MIS or Management Information System is a computer based system used by most organizations worldwide for transforming data into useful information for better decision making. It helps management make better plans and carefully organize business operations.

Management information system is used for generating reports including inventory status reports, financial statements, performance reports etc. These reports are essential for analyzing different aspects of business. These reports also help to answer 'what-if' questions like what would be the effect on cash flows of a company if the credit term is changed for its customers etc.
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MIS reports also support decision making and it helps to integrate the decision maker and the quantitative model being used. These automated systems allow managers to make decisions for smooth & successful operation of businesses. The systems includes computer resources, people, and procedures used in the modern business enterprise.

Types of Systems
  • Accounting Management Information System: The system shares all accounting reports at different levels of management

  • Financial Management Information System: The system provides financial information to managers in an organization. Based on these reports, managers analyze historical and current financial activity, and also project future financial needs. It is also used for monitoring and controlling the use of funds over time using the information developed by the MIS department.
Professional MIS reports are made by accounting firms for accurate analysis. These reports are comprehensive and help the middle and top management take important decisions regarding the finance, accounting and overall business operations.

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