MIS stands for Management Information System. It is a subset of a business's internal controls that uses people, documents, technologies, and procedures managed by accountants and management to solve business problems. A key part of MIS is gathering, sorting, analyzing, evaluating, and distributing timely and accurate information to decision makers throughout the organization. While accounting and payroll were early computer uses, MIS applications now provide managers with sales, inventory, and other operational data to aid management.