Explain the accounting related MIS report.

Following are the reports followed by the accounting related MIS:

• Summary Reports – Summarize all activities of the organisation and present them in the form of a summary report.
• Demand Reports – This report is prepared only when the management requests them, e.g. Bad Debts Report for a given product, Stock Valuation report.
• Customer/Supplier Reports – Prepared according to the specification of the management.
• Exception Reports – Prepared according to conditions or exceptions.
• Responsibility Reports – The MIS structure specifies the premises of management responsibility.