Page 197 - DCOM206_COST_ACCOUNTING_II

Cost Accounting – II Gopika Juneja, Lovely Professional University

Notes Unit 11: Information System and
Reporting to Management

CONTENTS
Objectives
Introduction

11.1 Attributes of Information
11.1.1 Information Needs of Managers
11.2 Concept of Management Reporting
11.2.1 Objectives of Reporting

11.3 Reporting Needs at Different Managerial Levels
11.4 Types of Reports
11.5 Modes of Reporting
11.5.1 Essentials of Successful Reporting

11.6 Summary
11.7 Keywords
11.8 Review Questions
11.9 Further Readings

Objectives

After studying this unit, you will be able to:

 State the attributes of information system;
 Discuss the pattern of reports and apply these to decisions;
 Explain good reports;
 Discuss the need of reports;

 Interpret the use of reports for data base.

Introduction

Management Information System can be developed as an act of interrelated components that
collect (or retrieve), process, store and distribute information to support decision-making,
coordinate and control in an organisation. Information means data have been shaped into a
form that is meaningful and useful to human being. Data are stream of raw facts reporting
events occurring in organisation or physical environment before they have been organised and
rearranged into a form that people can understand and use.

The purpose of reporting is to provide the information needed by the concerned party. The
value of information is determined by how the information meets the needs of the users. This
information creates an atmosphere for internal decision makers. The communication of the

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