What is the use of taking MIS Reports?

MIS stands for Management Information Systems. So, MIS reports are the reports which contain useful infomration on the basis of which management can take decisions. MIS reports normally contain forecasted and actual figures of key performance areas so that management can identify which areas need their focussed attention. MIS report normally contin Key Performance Indicators (KPIs). An MIS reeport related to sales and receivables may contain total sales revenue, product costs, gross margin, amount receivable from customers, receivables turnover or average days sales outstanding.