The basic role of MIS (management information system) is to focus on the information relating to organization and also technology systems. It analyzes the problems of the business and prepares designs and maintains computer applications to solve the organization’s problems. On the other hand board reporting is an effort to streamline the financial reporting process and providing the directors a meaningful and timely financial information. It is preparation of a complete checklist for senior management defining the key performance indicators. Thus it is consolidation and redesigning of financial reports, financial analysis report, investment report, budget report etc. thus this involves both external and internal reporting through preparation of detailed MIS reports.
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