What is far, mis report, pnl adjustment

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Accepted Answer

FAR stands for Financial Accounting and Reporting, MIS report is Management Information System report, PNL adjustment is Profit and Loss adjustment.

FAR is a process of recording, summarizing and reporting financial transactions of an organization.
MIS report is a tool used by management to make informed decisions based on data analysis.
PNL adjustment is a process of making changes to the profit and loss statement to reflect accurate financial information.
Examples of PNL adjustments include correcting errors in accounting entries, adjusting for depreciation and amortization, and recognizing revenue and expenses in the correct period.