|management information system (MIS)|
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Definition of management information system (MIS)
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
Schedule of depreciation rates allowed for tax purposes.
Also called surplus management, the task of managing funds of a financial
information that is known to some people but not to other people.
A management style that de-emphasizes the significance of economic
Very short maturity bills that the Treasury occasionally sells because its cash
A computerized clearing system for sterling funds
An international wire transfer system for high-value
The fee paid to a broker to execute a trade, based on number of shares, bonds, options, and/or
A broker on the floor of an exchange acts as agent for a particular brokerage house and
A firm which buys and sells future contracts for customer accounts. Related: futures
The application of financial principals within a corporation to create and
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
The expected value if the future uncertain outcomes could be known
The central bank of the U.S., established in 1913, and governed by the Federal
Futures commission merchant
A firm or person engaged in soliciting or accepting and handling orders for
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
A situation involving information that is known to some, but not all, participants.
Information Coefficient (IC)
The correlation between predicted and actual stock returns, sometimes used to
Transaction costs that include the assessment of the investment merits of a financial asset.
Organizations that furnish investment and other types of information, such as
The rise in the stock price following the dividend signal.
The speed and accuracy with which prices reflect new information.
Trades that are the result of either a reallocation of wealth or an implementation of an
Trades in which an investor believes he or she possesses pertinent
Relevant information about a company that has not yet been made public. It is illegal for
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
Management/closely held shares
Percentage of shares held by persons closely related to a company, as
Management buyout (MBO)
Leveraged buyout whereby the acquiring group is led by the firm's management.
An investment advisory fee charged by the financial advisor to a fund based on the fund's
Floating rate note whose interest rate is reset at more frequent intervals than the rollover
Related: Investment management.
A technical trading strategy that combines mechanical rules, such as the CRISMA
Net errors and omissions
In balance of payments accounting, net errors and omissions record the statistical
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
Passive investment management
Buying a well-diversified portfolio to represent a broad-based market
Related: Investment management
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
Written promise to pay.
The process of identifying and evaluating risks and selecting and managing techniques to
Securities & Exchange Commission
The SEC is a federal agency that regulates the U.S.financial markets.
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Related: asset management
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
Top-down equity management style
A management style that begins with an assessment of the overall
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
Working capital management
The management of current assets and current liabilities to maximize shortterm liquidity.
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
The production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
Strategic management accounting
The provision and analysis of management accounting data about a business and its competitors, which is of use in the development and monitoring of strategy (Simmonds).
A variety of approaches that emphasize increasing shareholder value as the primary goal of every business.
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
Perpetual inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
This is difficult to define in a few words—indeed, an
Securities and Exchange Commission (SEC)
The federal agency that
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
activity-based management (ABM)
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
actual cost system
a valuation method that uses actual direct
a mission of increasing market share, even at
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
Certified Management Accountant (CMA)
a professional designation in the area of management accounting that
a system using transfer prices; see transfer
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
enterprise resource planning (ERP) system
a packaged software program that allows a company to
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
a mission that attempts to maximize shortterm
a mission that attempts to protect the business
hybrid costing system
a costing system combining characteristics
bits of knowledge or fact that have been carefully
Institute of Management Accountants (IMA)
an organization composed of individuals interested in the field of management accounting; it coordinates the Certified management
job order costing system
a system of product costing used
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
a discipline that includes almost
Management Accounting Guidelines (MAGs)
pronouncements of the Society of management Accountants of
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
the preference of a manager in how he/she interacts with other stakeholders in the organization;
a written expression of organizational purpose that describes how the organization uniquely meets its targeted customers’ needs with its products or services
normal cost system
a valuation method that uses actual
a philosophy about increasing a firm’s performance by involving all workers and by ensuring
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a production system dictated by product sales
the traditional production system in which
an inventory ordering system in which a red
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
Society of Management Accountants of Canada
the professional body representing an influential and diverse
standard cost system
a valuation method that uses predetermined
Statement on Management Accounting (SMA)
a pronouncement developed and issued by the management
strategic resource management
organizational planning for the deployment of resources to create value for customers and shareholders; key varibles in the process include the management of information and the management of change in response to threats and opportunities
the cooperative strategic planning,
the use of all techniques that help an organization achieve its goals
total quality management (TQM)
a structural system for creating organization-wide participation in planning and implementing a continuous improvement process that exceeds
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