Role of Accounting and Mis
Paper on
Role of Accounting & MIS in Decision Making
Submitted By
Prof. Neeraj Dubey*
Prof. Umesh Sharma**
…………………………………………………………………………………..
*Faculty
Department of Management Studies
SRIIT
Banmore, Gwalior (M.P.)
Email: neerajsriit@gmail.com
Ph.: 9425775758
** Faculty
Dept. of Management Studies
M.P.C.T.
Gwalior (M.P.)
Ph.: 9301121672
Abstract
In current scenario the professional decisions of the managers are based on organizational data and not merely the gut feelings of the managers. It is an ardent need of the time to generate the reliable strategic data at all levels of the organization under proper supervision. This processed information is availed to the managers in order to assist them in their befitting decisions for the organization. A strong MIS in any organization is the mile stone to achieve organizational goals and smooth running of the organization. Latest developments in the technological field has smoothen the process of generating valuable data with proper storage and retrieval systems to assist in the decision making process. By focusing on the multidimensional aspects of accounting and MIS, an organization may observe the utopia.
Introduction:
Every business decision that you make should be based upon experience (wisdom gained from analysis of past information) or upon current information. Without specific metrics to gauge your success, you will have no data to determine what’s working.
[pic]
To move up the wisdom pyramid, you have to experiment with new approaches. Successful businesses continually reinvent themselves.
Would you ever drive your car blindfolded? Obviously, not!
Nonetheless, every day millions of business owners drive their businesses without knowing their financial locations: where they have been, where they are, and where they are going. That sure sounds blindfolded to us.
By having the proper information a company may determine where it want to go while creating an action plan that will help
Role of Accounting & MIS in Decision Making
Submitted By
Prof. Neeraj Dubey*
Prof. Umesh Sharma**
…………………………………………………………………………………..
*Faculty
Department of Management Studies
SRIIT
Banmore, Gwalior (M.P.)
Email: neerajsriit@gmail.com
Ph.: 9425775758
** Faculty
Dept. of Management Studies
M.P.C.T.
Gwalior (M.P.)
Ph.: 9301121672
Abstract
In current scenario the professional decisions of the managers are based on organizational data and not merely the gut feelings of the managers. It is an ardent need of the time to generate the reliable strategic data at all levels of the organization under proper supervision. This processed information is availed to the managers in order to assist them in their befitting decisions for the organization. A strong MIS in any organization is the mile stone to achieve organizational goals and smooth running of the organization. Latest developments in the technological field has smoothen the process of generating valuable data with proper storage and retrieval systems to assist in the decision making process. By focusing on the multidimensional aspects of accounting and MIS, an organization may observe the utopia.
Introduction:
Every business decision that you make should be based upon experience (wisdom gained from analysis of past information) or upon current information. Without specific metrics to gauge your success, you will have no data to determine what’s working.
[pic]
To move up the wisdom pyramid, you have to experiment with new approaches. Successful businesses continually reinvent themselves.
Would you ever drive your car blindfolded? Obviously, not!
Nonetheless, every day millions of business owners drive their businesses without knowing their financial locations: where they have been, where they are, and where they are going. That sure sounds blindfolded to us.
By having the proper information a company may determine where it want to go while creating an action plan that will help
References: 1) "Taking Control of IT Costs". Nokes, Sebastian. London (Financial Times / Prentice Hall): March 20, 2000. ISBN 978-0-273-64943-4 2) Friedl, Gunther; Hans-Ulrich Kupper and Burkhard Pedell (2005). "Relevance Added: Combining ABC with German Cost Accounting". Strategic Finance (June): 56–61. 3) http://www.know-accounting.com/glossary/index.php?terml=b&termid=29 4) http://www.decisionaccounting.com/make-more-money/ 5) http://www.answers.com/topic/accounting-information-system 6) http://www.freeessays123.com/essay22145/accountingformanagerialdecision.html