MIS or Management Information System is a computer based system that is used by most of the organizations to transform data into useful information for better decision making. It helps management to make better plans and carefully organize business operations.
This system is used for generating reports, which include inventory status reports, performance reports financial statements etc. These reports are important for assessing different aspects of business and also help in clearing out the probabilities that would affect the cash flow of the company in case the credit term is changed for its customers etc.
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.