Explain application of MIS use in Financial Management in brief with example. (Dec-2012)

Financial Management (FM) is perform a strategic task related to finance and control all the financial transactions.

Objective : Meet financial needs of the business from time to time, by way of providing working capital and long term capital to run the business with the goal of containing the cost of capital at the minimum.

Techniques for achieve Objectives :

1. Break even analysis
2. Capital budgeting and ROI analysis
3. Cost Analysis
4. Cash Flow Projections
5. Ratio analysis
6. Financial modelling
7. Management Accounting
8. Expense analysis,  auditing and control

Explain application of MIS use in Personnel Management in brief (with example and objectives)

Personnel management (PM) / Human resource management (HRM) is the strategic and approach to the management of an organization’s most valued asset and employees.

Objective of PM : Providing suitable manpower in number and with ability, skills and knowledge as per demand of business organization from time to time.

Goal of PM : control personnel cost through continuous increase in manpowerproductivity by resorting some techniques

List down Main functional Areas of Business(Main Pillar)

Main Functional areas of Business is

• Personnel Management
• Financial Management
• Production Management
• Raw-Material Management
• Marketing Management
• Corporate Business Management