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.
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.
