What are MIS reports and why do you prepare it?

MIS or Management Information System is a computer-based system used by most organizations worldwide for transforming data into useful information for better decisionmaking. It helps management make better plans and carefully organize business operations. Management information system is used for generating reports including inventory status reports, financial statements, performance reports etc. These reports are essential for analyzing different aspects of business. These reports also help to answer 'what-if' questions like what would be the effect on cash flows of a company if the credit term were changed for its customers etc. MIS reports also support decision-making and it helps to integrate the decision maker and the quantitative model being used. These automated systems allow managers to make decisions for smooth & successful operation of businesses. The system includes computer resources, people, and procedures used in the modern business enterprise. R