Financial Management Information Systems

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JensenBreck
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Financial Management Information Systems

Post by JensenBreck » Thu Dec 28, 2017 11:36

Hi,
Financial Management Information Systems accumulate and analyze financial data in order to make good financial management decisions in running the business. FMIS is the acronym for the term “Financial Management Information Systems”. The basic objective of the financial information system is to meet the firm's financial obligations as they come due, using the minimal amount of financial resources consistent with an established margin of safety. Outputs generated by the system include accounting reports, operating and capital budgets, working capital reports, cash flow forecast, and various What-If Analysis reports. The evaluation of financial data may be performed through ratio analysis, trend evaluation, and financial planning modeling. Financial planning and forecasting are facilitated if used in conjunction with a Decision Support System (DSS).

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