Role of Accounting & MIS in Decision Making
Prof. Neeraj Dubey*
Prof. Umesh Sharma**
Section of Supervision Studies
Banmore, Gwalior (M. P. )
Email: [email protected] com
Dept. of Management Research
M. G. C. To.
Gwalior (M. P. )
In current situation the specialist decisions from the managers depend on organizational data and not merely the gut thoughts of the managers. It is an hardcore need of times to generate the reliable strategic data by any means levels of the business under proper supervision. This kind of processed data is utilized to the managers in order to support them within their befitting decisions for the organization. A strong MIS in any business is the mile stone to accomplish organizational goals and soft running of the organization. Most recent developments in the technological discipline has smoothen the process of generating valuable info with appropriate storage and retrieval systems to assist in the decision making process. By focusing on the multidimensional aspects of accounting and MIS, an organization might observe the thinking about.
Every business decision that you produce should be dependant on experience (wisdom gained coming from analysis of past information) or upon current info. Without particular metrics to gauge your success, you may have no data to determine can be working. [pic]
To move up the wisdom pyramid, you have to test out new techniques. Successful businesses continually reinvent themselves. Do you ever travel your car blindfolded? Obviously, certainly not!
Nonetheless, each day millions of business owners drive their businesses , and without knowing their economic locations: in which they have been, where they are, and where they go. That sure sounds blindfolded to us. By having the appropriate information a firm may decide where it want to go whilst creating a task plan that will help get there. With this fish hunter 360 degree perspective of your business, you can program effectively and after that track your progress against your goals. It will likewise help you predict obstacles to ensure that, when encountered, you can easily move around around them rather than allowing them to hinder you. Management accounting is concerned with the provisions and use of accounting information to managers within organizations, to supply them with the foundation to make educated business decisions that will allow these to be better prepared in their administration and control functions. Contemporary information technology assets together with classic accounting handles and strategies to provide users the economic information necessary to manage their particular organizations. AIS Technology:
Insight The insight devices frequently associated with AIS include: common personal computers or workstations operating applications; scanning services devices intended for standardized info entry; digital communication equipment for digital data interchange (EDI) and e-commerce. Process Basic control is accomplished through computers ranging from specific personal computers to large-scale business servers. Result Output devices used consist of computer displays, impact and non-impact machines, and digital communication devices for EDI and e-commerce. The output content material may cover almost any sort of financial information from financial constraints and duty reports to multinational monetary statements.
Supervision Information Devices (MIS)
MISs are active human/machine systems that support decision making intended for users at and out of classic organizational limitations. These systems are useful intended for daily detailed activities; current and upcoming tactical decisions; and total strategic way. The main facets of MISs are as beneath: -
Monetary applications: This forms the heart of the AIS used. Modules commonly implemented consist of: general ledger, payables, procurement/purchasing, receivables, payment, inventory, possessions, projects,...
Referrals: 1) " Taking Control of THIS Costs". Nokes, Sebastian. Birmingham (Financial Times / Prentice Hall): Mar 20, 2k. ISBN 978-0-273-64943-4
2) Friedl, Gunther; Hans-Ulrich Kupper and Burkhard Pedell (2005). " Relevance Added: Combining HURUF with A language like german Cost Accounting". Strategic Financing (June): 56–61. �