Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
what is mis? and what is the process to prepare any mis report
MIS - Management Information System.
Preparing Mis for Every Month and Quaterly based for anaysis of financial needs and indeeds.
Depending upon Structure of the company needs and requirement it self prepared. Manager bring this presentions reportsto monthly meeting for showing Board of directors or High Management.Following Reports Must Cotain Finance MIS statement.
1.Balance Sheet.
2.Expenditure Statement.
3.Costing Report
4.Sales Report
5.Production Report.
6.Trial Balance
7.Sundry Creditors Agieng
8.Sundry Debtors Agieng
9.Bank Reconcilisation Statement.
10.Variances Of Expenditure if any causes
11.Preparing Report for analysis of Cash flows and fund flows for the Period.
12.Work in Progress and Inventory Statements.
i think you people get intial idea for why mis required.
Various department have various mis reports formats.

MIS is a reporting system based on the various activities of an organization to enable it to review its progress and to evolve new policies on the basis of past performances. Some experts inclined to the idea that MIS has a set setup of systematical information that help its managers to shape the future policies.
I do not subscribe to this idea. MIS can be anything that can be put together to review a scenario from different angles to review past policies and to format future strategies. Only one has to innovative enough to invent new way to develop the MIS system, and keep it reviewing to make more improvement in it. A thinking brain can do wonders in MIS and with MIS

MIS is the use of information technology, people, and business processes to record, store and process data to produce information that decision makers can use to make day to day decisions.
MIS is the acronym for Management Information Systems. In a nutshell, MIS is a collection of systems, hardware, procedures and people that all work together to process, store, and produce information that is useful to the organization.
The need for MIS
The following are some of the justifications for having an MIS system
• Decision makers need information to make effective decisions. Management Information Systems (MIS) make this possible.
• MIS systems facilitate communication within and outside the organization – employees within the organization are able to easily access the required information for the day to day operations. Facilitates such as Short Message Service (SMS) & Email make it possible to communicate with customers and suppliers from within the MIS system that an organization is using.
• Record keeping – management information systems record all business transactions of an organization and provide a reference point for the transactions.
Below are the important point which are to be consider while creating MIS report:
1. Before creating any MIS report you should know excel very well. Then create report template based on your requirements.
2. Remember you should create MIS template in such way that it is easy to read (Easy to understand) for your upper management ( TL, Manager, VP, MD etc.). So that they can easily find the insight from report.
3. Collected all the raw data which are required for report. May be you need to collect data from different departments (Marketing, Sales, Customer service, Information technology etc.) or from your different clients
4. Do mining or Cleaning on your raw data i.e. remove all unnecessary data from raw data.
5. Always keep your Raw data in different sheet. So that it is easy to link to your report.
6. Now it’s time to link your data to your MIS template using excel formula. You can use Vlookup, Hlookup, Sumifs, Sumif etc. formula depends on your need.
7. Now your raw data converted into well structured Report. That report will give the helpful information to your organization or Individuals for whom you creating report.
8. Final and most impotent step is to check your report whether numbers are following the trend or not, any #N/A, any #values etc.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™