This document discusses management information systems and keys to successful record keeping. It contains the following main points: 1) Management involves planning, organizing, directing, and controlling a business, with controlling being the most important and challenging aspect. Good information is crucial for effective control and decision making. 2) Financial and production records within a business can provide some of the best information for management decisions if systems are implemented to make record keeping efficient and provide useful summary information. 3) Keys to successful record keeping include having simple yet useful systems, ensuring records meet needs and limitations, and accurately matching expenses with income. Basic financial statements should also be analyzed to assess financial condition and performance.