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I don't know if we call it MIS, but I used to do Financial statements monthly and statutory reports... etc under Sarbannes & Oxley requirements, also under UK requirements, in a way to guarantee accuracy and compliance of information, with respects to a certain format and design.
MIS is management information system. It is a system used to generate reports to be introduced to management for better decision making and for control
UK Corporate Governance Codes and Sarbanes–Oxley Act2002 (usually shortened to ‘Sarbox’ or ‘Sox’) promote the healthy and ethical corporate environment. The obvious function of Codes & Sox is to improve the general quality of corporate governance practices. They do this by defining best practices of corporate governance and specific steps that organizations can take to improve corporate governance.
I use to prepare following types of MIS reports in my current job:
Trial Balance, Income Statement, Balance Sheet & Cash flow Reports, Sales/Purchase, Receipts/Payments, Stock/Inventory, Cash/Bank Balances, Salary/Payroll, Gratuity & Employee Benefits, Accrued Income/Expense, Fixed Assets, Prepayments/Deposits, Receivable/Payable Outstanding Balances, Receivable/Payable Aging Analysis, Foreign Exchange Gain/Loss Analysis, Sales Variance Analysis, Income/Profitability Variance Analysis, Financial Ratios Analysis, Cash Budget and Variances, Reports & Schedules for Shareholders and Directors, Financial Statements and other analytical Reports for Parent, Subsidiary and Associate Companies, Consolidated Financial Statements, Consolidated Income/Expense, Consolidated Receivable/Payable, Consolidated Asset/Liabilities, Consolidated Funds Management Reports etc.
MIS is management information system. It is a system used to generate reports to be introduced to management for better decision making and for control. These reports may include inventory reports, HR reports, Financial statements and others. For sure Sarbins Oxly act (SOX) and UK combined code regulations have their implications on how the financial statements should be introduced.
