Your Ask Joey ™ Answer

What is a management information system (MIS)?

Management information systems (MIS) has an overall objective of enhancing the operations of a business by providing timely information to company’s management. MIS is defined as a formal method of collecting timely information in a presentable form so that it can facilitate effective decision making and implementation, in order to carryout organizational operations for the purpose of achieving organizational goals.

Some characteristics of MIS include:

Management orientation – MIS is panned according to the information needs of management. For designing the MIS, the information needs of all management levels from top to bottom are assessed.

Management directed – As MIS is management oriented (e.g. management directs the establishment and implementation of MIS in the organization.)

Integrated system – MIS is an integrated system which coordinates the information from different areas to cater to the information needs of the managers efficiently. Management information systems are composed of various subsets. Some of the subsets of MIS that you should be familiar with consist of accounting information systems (AIS), Decision support systems (DSS), and executive information systems (EIS).


Back To All Questions

You might also be interested in...

  • Discontinued Operations on the FAR CPA Exam

    Overview of Discontinued Operations In financial reporting, discontinued operations refer to a component of a company’s core business or product line that have been divested or shut down. Discontinued operations will be reported (net of tax) separately from continuing operations on the income statement. The reason that discontinued operations are reported separately is so that...

  • Equity Method Excel Workbook

    If you would like to use the Excel workbook that was used to create the Universal CPA lecture on the equity method, please click the link below to download the Excel workbook: Equity Method Lecture Example https://youtu.be/QE4flnmuSkw

  • How Hard is the CPA Exam?

    So you’re thinking about taking the CPA exam? Whether you have a dream of becoming a tax advisor, feel as though you need public accounting experience, or just want to solidify your business acumen, the CPA license is one of the most prestigious and well respected licenses in the business world. The exam itself is...