Management Information System And Accounting Systems

Management at all levels of an organisation rely on reports generated by a MIS to evaluate short and long-term progress against plans.

Deviations from planned performance and standards need to be addressed quickly if competitiveness is to be maintained.

An effective MIS system allows management to make quick decisions based on accurate information and thereby maintain appropriate control of a business. It should provide appropriate reports to different segments of a business according to your needs and goals. For example, the needs of a sales team will differ from those of manufacturing or production supervisors.

MIS should extend well beyond monthly profit and loss accounts and balance sheets, particularly in larger businesses where there will be a need for material such as customer and product profitability analysis; productivity and manufacturing performance; procurement and inventory analysis.

Meridian can help develop your MIS and accounting systems in several ways:

  • Assessing the reliability and efficiency of data collection and processing
  • Considering the accuracy and integrity of that data
  • Evaluating the robustness of accounting systems, exposure to fraud and error
  • Ensuring data is condensed into accurate, timely and meaningful management information
  • Developing or modifying dashboard reports and key performance indicators (KPI’s) for different members of the management team
  • Ensuring communication of management and accounting information is suitable for the needs of the business

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