This type of report mainly focuses on the sales of the product or services of a company weekly, monthly, yearly, etc. to identify the deviations in sales as per the expectations and it specifies the income, reasons for such deviation, sales decisions, etc. It is prepared by the marketing and the sales department of a company.
Inventory MIS report
MIS always monitors and tracks the inventory usage of the company. It keeps track of all types of inventories such as work-in-progress inventories, sale inventories, semi-finished goods, finished goods, etc. and these inventory reports suggest the required strategies that must be made to manage such inventories. If there is a low inventory of raw materials, then it will suggest acquiring more raw materials, etc.
Budget MIS report
Every company must mandatorily prepare a budget report to assess the required funds and for their proper allocation. Through MIS the company can easily identify their finance requirements and they can allocate such funds efficiently without any wastage.
Cashflow statement MIS report
With the help of this MIS report, the management can analyze the actual inflow and outflow of the cash in the company. Through this report, the management can easily detect the area where more fund is required and utilized and where the fund is wasted, and with the help of such a report, the company can optimize the use of funds.
Profit MIS report
This type of report is prepared by the accounts department of the company to analyze the deviation between the actual profits earned and the expected profits and it also helps to identify the reasons for such deviations.
Financial MIS report
The financial report is created by the accounting and financial team of a company. This report includes all the accounting statements and records such as income statements, balance sheets, profit, and loss statements and expense statements. These statements and the report are very crucial for making financial decisions and other financial activities such as payment of dividends etc.
