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what is meant by MIS reporting
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Answer / kale
An organized approach to the study of the information needs
of an organization's management at every level in making
operational, tactical, and strategic decisions. Its
objective is to design and implement procedures, processes,
and routines that provide suitably detailed reports in an
accurate, consistent, and timely manner.
In a management information system, modern, computerized
systems continuously gather relevant data, both from inside
and outside an organization. This data is then processed,
integrated, and stored in a centralized database (or data
warehouse) where it is constantly updated and made
available to all who have the authority to access it, in a
form that suits their purpose.
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Expand ------DMRC
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
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