Question { Crisil, 86279 }

What is Meany By MIS Report?What are things covered in the
report?

Answer

At the start, in businesses and other organizations, internal reporting was made manually and only periodically, as a by-product of the accounting system and with some additional statistic(s), and gave limited and delayed information on management performance. Previously, data had to be separated individually by the people as per the requirement and necessity of the organization. Later, data was distinguished from information, and instead of the collection of mass of data, important, and to the point data that is needed by the organization was stored.
In their infancy, business computers were used for the practical business of computing the payroll and keeping track of accounts payable and accounts receivable. As applications were developed that provided managers with information about sales, inventories, and other data that would help in managing the enterprise, the term "MIS" arose to describe these kinds of applications. Today, the term is used broadly in a number of contexts and includes (but is not limited to): decision support systems, resource and people management applications, ERP, SCM, CRM, project management and database retrieval application.
An 'MIS' is a planned system of the collecting, processing, storing and disseminating data in the form of information needed to carry out the functions of management. In a way it is a documented report of the activities that were planned and executed. According to Philip Kotler "A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers." [3]
The terms MIS and information system are often confused. Information systems include systems that are not intended for decision making. The area of study called MIS is sometimes referred to, in a restrictive sense, as information technology management. That area of study should not be confused with computer science. IT service management is a practitioner-focused discipline. MIS has also some differences with Enterprise Resource Planning (ERP) as ERP incorporates elements that are not necessarily focused on decision support.
Professor Allen S. Lee states that "...research in the information systems field examines more than the technological system, or just the social system, or even the two side by side; in addition, it investigates the phenomena that emerge when the two interact." [4].
MANAGEMENT INFORMATION SYSTEM is defined as :-
1)Provides information support for decision making in the organization
2)MIS is an integrated system of man and machine for providing the information to support the operation .
3)MIS is defined as a computer based information system.

Question { 15086 }

what is BRS? 12.Why is it used ?

Answer

BRS- Bank Reconciliation Statement :- which is preparing
for know actual difference in balance from our cash/bank
books (Balance as per our books) with Bank Statement
(Balance as per Bank). That is also inform you which
cheques and cash deposit/payment pending and other charges
has been Debited/Credited in your Bank Accounts.

Reconciliation for
Saving A/c :
Current A/c :

Question { HCL, 18388 }

Diff between Net profit & Gross profit?

Answer

Here is how you reach net profit on a P&L (Profit & Loss) account:
Sales Revenue = Price (of product) X Quantity Sold
Gross profit = sales revenue – cost of sales and other direct costs
Operating profit (EBIT, earnings before interest and taxes) = Gross profit – overheads and other indirect costs
Pretax Profit (EBT, earnings before taxes) = operating profit – one off items and redundancy payments, staff restructuring – interest payable
Net profit= Pre-tax profit – tax
Retained earnings = Profit after tax – Dividends

Question { 4891 }

what are the nationalised banks?

Answer

Nationalised banks dominate the banking system in India.
The history of nationalised banks in India dates back to
mid-20th century, when Imperial Bank of India was
nationalised (under the SBI Act of 1955) and re-christened
as State Bank of India (SBI) in July 1955. Then on 19th
July 1960, its seven subsidiaries were also nationalised
with deposits over 200 crores. These subsidiaries of SBI
were State Bank of Bikaner and Jaipur (SBBJ), State Bank of
Hyderabad (SBH), State Bank of Indore (SBIR), State Bank of
Mysore (SBM), State Bank of Patiala (SBP), State Bank of
Saurashtra (SBS), and State Bank of Travancore (SBT).

However, the major nationalisation of banks happened in
1969 by the then-Prime Minister Indira Gandhi. The major
objective behind nationalisation was to spread banking
infrastructure in rural areas and make cheap finance
available to Indian farmers. The nationalised 14 major
commercial banks were Allahabad Bank, Andhra Bank, Bank of
Baroda, Bank of India, Bank of Maharashtra, Canara Bank,
Central Bank of India, Corporation Bank, Dena Bank, Indian
Bank, Indian Overseas Bank, Oriental Bank of Commerce
(OBC), Punjab and Sind Bank, Punjab National Bank (PNB),
Syndicate Bank, UCO Bank, Union Bank of India, United Bank
of India (UBI), and Vijaya Bank.

In the year 1980, the second phase of nationalisation of
Indian banks took place, in which 7 more banks were
nationalised with deposits over 200 crores. With this, the
Government of India held a control over 91% of the banking
industry in India. After the nationalisation of banks there
was a huge jump in the deposits and advances with the
banks. At present, the State Bank of India is the largest
commercial bank of India and is ranked one of the top five
banks worldwide. It serves 90 million customers through a
network of 9,000 branches.

List of Public Sector Banks in India is as follows:

Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab and Sind Bank
Punjab National Bank
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of India (SBI)
State Bank of Indore
State Bank of Mysore
State Bank of Patiala
State Bank of Saurashtra
State Bank of Travancore
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
IDBI Bank

Question { EDS, 6351 }

What is Balance sheet?

Answer

In financial accounting, a balance sheet or statement of
financial position is a summary of the financial balances
of a sole proprietorship, a business partnership or a
company. Assets, liabilities and ownership equity are
listed as of a specific date, such as the end of its
financial year. A balance sheet is often described as
a "snapshot of a company's financial condition".[1] Of the
four basic financial statements, the balance sheet is the
only statement which applies to a single point in time.

A standard company balance sheet has three parts: assets,
liabilities and ownership equity. The main categories of
assets are usually listed first, and typically in order of
liquidity.[2] Assets are followed by the liabilities. The
difference between the assets and the liabilities is known
as equity or the net assets or the net worth or capital of
the company and according to the accounting equation, net
worth must equal assets minus liabilities.[3]

Another way to look at the same equation is that assets
equals liabilities plus owner's equity. Looking at the
equation in this way shows how assets were financed: either
by borrowing money (liability) or by using the owner's
money (owner's equity). Balance sheets are usually
presented with assets in one section and liabilities and
net worth in the other section with the two
sections "balancing."

Records of the values of each account or line in the
balance sheet are usually maintained using a system of
accounting known as the double-entry bookkeeping system.

A business operating entirely in cash can measure its
profits by withdrawing the entire bank balance at the end
of the period, plus any cash in hand. However, many
businesses are not paid immediately; they build up
inventories of goods and they acquire buildings and
equipment. In other words: businesses have assets and so
they can not, even if they want to, immediately turn these
into cash at the end of each period. Often, these
businesses owe money to suppliers and to tax authorities,
and the proprietors do not withdraw all their original
capital and profits at the end of each period. In other
words businesses also have liabilities.

Question { Infosys, 6039 }

How we can transfer stock from our punjab firm to our
chandigarh firm

Answer

if you want to stock transfer to your branch offices out of states then you have to submit F-forms for stock transfer