While looking into information for this paper I was surprised and pleased to nd that the elds of MIS

and nance are actually often lumped together. Accounting also factors in but I am going to focus on the correlation between nance and management information systems in this paper. A major connection between the elds of nance and management information systems is that MIS is often used to create programs to help with nance. The Prairie View A&M University's business school describes graduates of the MIS program as having the skills to, "integrate concepts and apply the knowledge and tools of advanced information technology to practical applications in accounting, nance, and operations management." Having taken a few MIS classes, I can see how the would be helpful in corporate nance. In my business applications development class we learned how to write computer programs capable of doing a number of things, including calculating things like taxation, rent due, and a grocery budget. This being said, if MIS can give me the knowledge to create programs such as those it should not be difcult to write a program that gave elds for net income, depreciation, etc. that would then calculate net present value or IPP. Aside from creating of programs, there is also a eld called nancial management information systems. "Financial MIS Provides nancial information to all nancial managers within an organization. It integrates nancial & operational information from multiple sources. Financial MIS eases analysis by providing fast nancial data. It enables nancial analysis from different aspects; time, product, customer. With Financial MIS, one can analyze historical and current data. Also one can monitor use of funds." (Mehta) It seems that nancial management information systems is also closely related to operations management. It is basically the integration of new technology into the

management systems in order to increase efciency and cut costs. Financial MIS is also often used in order to create a strategic plan for a company. Although there are many instances in which nancial MIS could be utilized, there are some areas that are most commonly aided by it. Payroll in particular is one of the most common areas of business aided by nancial MIS. Programs exist that can catalog all employees, vendors, etc. Additionally, information such as pay rate, vacation time remaining, and address can be stored as details of a specic person. This is very helpful because it makes paying employees and bills much more manageable and easier to review in hindsight. Inventory and ordering are also very impacted by nancial management information systems. Point of sale systems are being implemented almost everywhere. Even the small pharmacy where I work at home has invested in a point of sale system. These systems allow for tracking of sales. By tracking sales stores can see A. what they will need to reorder for their inventory, and B. what things are selling best so they know what to try to always keep on hand. It seems that the major benet of merging nance with MIS is the organization it gives to the eld. No longer do nance managers have to look at long ledgers or old receipts to nd information. The paper trail has been signicantly decreased. With information being stored on computers it makes looking up information as simple as hitting 'ctrl F.'

Works Cited "Financial Management Information System (MIS) | BI Blog | Business Intelligence (BI) Blog."

BI Blog | Business Intelligence Blog | MAIA Intelligence BI Blog. Web. 16 June 2011. <http:// blog.maia-intelligence.com/2008/04/24/nancial-management-information-system-mis/>.