Wednesday, 14 October 2020

Management Reporting and MIS

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Management Reporting and MIS

 

 

􀁺 The reporting system involves all levels of management.


􀁺 The reports originate from junior levels of management and go up to top level management, consisting of Board of Directors.

􀁺 A good reporting system is helpful to the management in planning and controlling.

􀁺 Management Information System is a very important function of any organization in

today’s global economy.

􀁺 Performance measures are a central component of management information and reporting system.

􀁺 There are financial and non-financial performance measures.

􀁺 The performance measures at different levels of management have been discussed in this unit.

􀁺 The features of performance reports and the formats have been explained with suitable illustrations.

􀁺 There are different reports based on different levels of management.

 

 

 

 

 

Information System: It is a set of elements joined together for a common objective. An information system can be defined as the means by which information is generated and communicated to managers at various levels to help them in the decision-making process.

Management Information System (MIS): It refers to the data equipment and computer programmes that are used to develop information for managerial use.

Management Reporting: The process of providing information to the management is known as management reporting. The reports are regularly sent to various levels of management as to enable in judging the effectiveness of their responsibility centres. These reports also become a base for taking corrective measures, if necessary.

Performance Measures: A form of reporting for different levels of an organization and for managers on financial and non-financial performances. It is useful for allocation of resources, costs, revenues.

Report: Report is a form of statement that presents and examines facts relating to an event, problem, progress of action, state of business affairs etc. and for the purpose of conveying information, reporting findings, putting forward ideas and making recommendations as the basis of action.

 

  

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