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5 Simple Steps to Preparation of reports

1
Arranging Document
2
Preparation of Balance sheet
3
Preparation of cash flow Statement
4
Preparation of Fund flow statement
5
Drafting of Report

Requirement of MIS?

  • Management Information Report (MIS) is an important part of the business process.

 

  • Management can use this report to form the decision and policies of the company.

 

  • The accuracy of the MIS is very important because wrong MIS can miss guiding the use of reports.

 

  • MIS is a combination of various returns as like Sales Report, Material Consumed Report, Cash Reports and Fund Flow Reports.

Basic Documents

Regarding Business

Followings documents are required for the preparation of Reports.

  • Sales Details
  • Purchase Details
  • Bank Statements
  • Expenses Details
  • Fixed Assets details
  • Taxes Details

Other Document

Followings details are required:

  • Details of amount payables
  • Details of amount receivables
  • Details of Expenses
  • Details of Payment
999

Basic

All Inclusive Fees

  • For Proprietorship Business
  • Note: Final Cost will be decided after discussion of complexities Reports.
4999

Silver

All Inclusive Fees

  • For Private Limited Company
  • Note: Final Cost will be decided after discussion of complexities Reports.
9999

Gold

All Inclusive Fees

  • For Public Limited Company
  • Note: Final Cost will be decided after discussion of complexities Reports.

About Term

Sales Report

It clearly points out the difference between budgeted and actual sales figures, known as sales variance, with reasons.

Cash flow statements

Such as a statement gives the figures of cash inflows and cash outflow during the period of operations. It also indicates the sources of funds utilized in case cash outflows are more than cash inflows.

Fund Flow Statement

This statement is prepared by the accounting and finance division of the concern and it clearly points out various sources of funds as well as their application areas during any period.

Account Receivable

Accounts receivable is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Said another way, the account receivable is amounts of money owed by customers to another entity for goods or services delivered or used on credit but not yet paid for by clients.

Account Payable

Accounts payable is the amount owed by an entity to its vendors/suppliers for the goods and services received. To elaborate, once an entity orders goods and receives before making the payment for it, it should record a liability in its books of accounts based on the invoice amount.

Management Information

MIS facilitates managerial functioning. Management information is an important input at every level in the organization for decision making, planning, organizing, implementing, and monitoring and controlling. MIS is valuable because of its content, form, and timing of presentation.

Benefits of management Information system

  • Helps to achieve a higher level of efficiency: Managers have the information needed to identify a company's strengths and weaknesses.

 

  • Promote better Communication:  When managers, department heads and employees are sharing the same information, there is better communication between them to identify problem areas and find mutually agreeable solutions.

 

  • More helpful to small business: A management information system is essential for any small business owner who is serious about improving the performance of his company. Without a good MIS, managers are managing by trial-and-error rather than making intelligent decisions based on a thoughtful analysis of data.

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