Mis- Management Information System
1)Every Company has Mis to close the records of the monthly
transactions or the specified period which they have.
2)MIS relates to closing and finalisation of monthly P&l or
balance sheet(in expense classification)
3)It also includes bank recon of all bank books for the
monthly transactions.
4)In short, mis related to all informations(consolidated)on
a monthly basis like service tax input credit or
classifications of cost centre wise.
Every company has their own format to getting a breif
information which covers a particular feilds so MIS is a
format which contains information about the requared
segments like, revenue information, turnover, taxation,and
others
M.I.S Means:
Properly Management Information System:
MIS Provides the Clearly Business Turnover Monthly,
annually and he provides the Revenue Expenditure.
In short, MIS Means Safe Record.
There is no specific format for MIS. It can be different
from company to company. The idea for doing MIS (Management
Information System) is to provide the required information
to the management on a monthly basis. The information
required will be fixed by the Management.
A management information system (MIS) is a subset of the
overall internal controls of a business covering the
application of people, documents, technologies, and
procedures by management accountants to solve business
problems such as costing a product, service or a business
wide strategy.