AST 205 Chapter 7 powerpoint notes

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Business-Finance
mis

Published on December 19, 2008

Author: aSGuest7328

Source: authorstream.com

Management Information Systems (MIS) : Management Information Systems (MIS) AST 205 Chapter 7 Notes What is a Management Information System : What is a Management Information System A continuous flow of business information which ultimately aids a manager in the decisions that must be made in order to efficiently run a business. Some questions to ask about your MIS: : Some questions to ask about your MIS: -What type of data do I need? Expense reports Sales volume report Income for a previous period -What format does that data need to be in? Weekly/monthly/quarterly/yearly reports Spreadsheet Tables/Graphs MIS Questions Ctn. : MIS Questions Ctn. -How will use that data? To monitor To make decisions To flag areas of concern To compare with other operations -How will I collect this data? Who collects Where recorded What is recorded MIS Questions ctn. : MIS Questions ctn. -Why do we collect this data? Track cash flows Track financial position Tax reasons Decision making A MIS should provide information on 5 key areas: : A MIS should provide information on 5 key areas: Human Resources time worked tracking time off work orders- time allotted to a job Financial : Financial Material on Hand- all tangible assets -condition -ownership status -legal information -inventory Aviation Operations : Aviation Operations -line service- revs. & Exp. -Flight Instruction/charter- -Maintenance- volume, efficiency Tax Information : Tax Information -those owed & collected from cust. Analysis : Analysis All this information is no good unless we have a way to analyze & interpret it 2 fold objective of our analysis: To determine if goals are being met To identify areas of needed improvement Analysis ctn. : Analysis ctn. Accounting systems provide the raw data; it is up to managers to analyze this info. By applying standards to judge from- Results from previous periods Contrast with industry averages Compare w/ competition if possible Examples : Examples FBO Manager TotalFBO®

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