Another Introduction To MIS

Management Information System (M.I.S.) is basically concerned with processing data into information. which is then communicated to the various departments in an organization for appropriate
decision-making.

Data --> Information --> Communication --> Decisions

Data collection involves the use of Information Technology (IT) comprising computers and telecommunications networks (E-Mail, Voice Mail, Internet, telephone, etc.)
Computers are important for more quantitative, than qualitative, data collection, storage and retrieval; Special features are speed and accuracy, and storage of large amount of data.
Telecommunications provide the means for oneway or two-way communication and for the transmission of messages. A combination of IT is used: telephone, computer, processor, printer, etc. A lot of time and money are saved and the security of data and messages is ensured.

Fundamental Interactive / Internet Marketing Terms

Affiliate Marketing – Affiliate marketing is a method of promoting web businesses (merchants/advertisers) in which an affiliate (publisher) is rewarded for every visitor, subscriber, customer, and/or sale provided through his/her efforts.

Banner Ad (Display Ads) – A web banner or banner ad is a form of advertising on the internet. This form of internet advertising entails embedding an advertisement into a web page. It is intended to attract traffic to a website by linking them to the web site of the advertiser.
The advertisement is constructed from an image (GIF, JPEG, PNG), JavaScript program or multimedia object employing technologies such as Java, Shockwave or Flash, often employing animation or sound to maximize presence. Images are usually in a high-aspect ratio shape (i.e. either wide and short, or tall and narrow) hence the reference to banners.

Interactive Marketing vs. Internet Marketing

As with all terminology, the descriptive words ‘interactive’ and ‘internet’ mean two, slightly different things when applied in a marketing sense. Before we review the fundamental processes and techniques within interactive marketing, let’s review what these two terms mean.

Interactive Marketing

Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation. The definition of interactive marketing comes from John Deighton at Harvard, who says interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that we remember what the customer has told us. Interactive marketing is not synonymous with internet marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when we can collect customer information online and we can communicate with our customer more easily using the speed of the internet.


Internet Marketing

Internet marketing, also referred to as online marketing or Emarketing, is marketing that uses the Internet. The interactive nature of Internet media, both in terms of instant response, and in eliciting response at all, are both unique qualities of Internet marketing. Internet marketing ties together creative and technical aspects of the internet, including design, development, advertising and sales. Internet marketing methods include search engine marketing, display advertising, email marketing, affiliate marketing, interactive advertising, blog marketing, and viral marketing.

Scope of An Audit

   Scope of an audit means the extent of audit tasks which are determined by an auditor for conducting the audit of a company. The determination of the scope of an audit depends upon the nature of audit.
For example, the internal audit has a different scope than statutory audit of a company. The audit standard No. 1 establishes the criteria for determining the scope of the audit of a company. They are described as……..
 1. Statutory requirements:
 This is one of the most important factors, which governs certain rules and regulations framed by the statute of a company for safeguarding the interest of the shareholders.
2. Proper planning:
 All the audit tasks should be properly planned and organized to cover all aspects of the entity relevant to the financial statements to be audited.
3. Reasonable assurance (self confident):
 To form an expert opinion on the financial statements, the auditor must ensure himself whether information contained in the accounting records and other source data is sufficient for preparation of financial statements. a) Study and evaluation of accounting systems and internal controls to
b) Tests, enquiries and other verification procedure of
4. Proper communication of information:
 The auditor must determine whether the relevant information is properly communicated by
a) Comparing the financial statements with the accounting records and other source data
b) Considering the assertions (claim) that management has made in preparing the financial statement
5. Proper evidence:
 In order to satisfy himself with respect to the correctness and adequacy of accounting records and other source, data contained in the financial statements, auditor must seek proper evidence.
6. Extension of work:
 If the auditor suspects any fraud or error after applying his selected tests, enquiries and other verification procedure, he must extend his audit tasks to confirm or allay his suspicions.