Question
Bring out the relationship between MIS and AIS.
✓
Answer
A management information system is an information system that generates, accurate, timely and organised information to help managers make decisions, control process, solve problems, supervise activities and track progress. Accounting information system identifies, collects, processes and communicates economic information of an organisation to a wide variety of users. Every accounting systern is a part of the Accounting Information System which in turn is a part of the broader system i.e. the management information system.
Relationship between accounting system, accounting information system and management information system.
Accounting Information System is one of the function information systerns and management information system has a link with all the function information systems of an organisation.
Initially MIS was considered to be a financial accounting system and was a tool to maintain the financial record keeping activities. But gradually it developed into a broader concept and accounting system has now become one of its sub components. An accounting information system on the other hand performs the accounting applications of an organisation. Accounting information systems contribute to problem solving by producing standard management reports that summarise the firm's financial conditions and by providing the data base that is used by other information systems.
Relationship between accounting system, accounting information system and management information system.
Accounting Information System is one of the function information systerns and management information system has a link with all the function information systems of an organisation.
Initially MIS was considered to be a financial accounting system and was a tool to maintain the financial record keeping activities. But gradually it developed into a broader concept and accounting system has now become one of its sub components. An accounting information system on the other hand performs the accounting applications of an organisation. Accounting information systems contribute to problem solving by producing standard management reports that summarise the firm's financial conditions and by providing the data base that is used by other information systems.
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From the following balances of M/s Jyoti Exports, prepare trading and profit and loss account for the year ended March 31, 2017 and balance sheet as on this date.
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The following information is also available:
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The following information is also available:
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From the following Trial Balance of Mr. Tarun Ghosh, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2017 and a Balance Sheet as at that date:
Adjustments:
→Adjustments:
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Additional Informantion:
Additional Informantion:
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