ACCOUNTING

ACCOUNTING INFORMATION SYSTEM

Introduction

The assignment is based on the analysis of the skills and analysis regarding the data and certain information in a particular workplace. It shows excel regarding the information and analysis if the data provided. This particular assignment represents the information regarding the registration in an event related to the race.

Further, it also states the summary of a particular report of the budget hence prepared. Analysis of the sales of the ticket is also mentioned in the particular assignment. Recommendations are also suggested in this assignment which will basically help to analyze the budget in future of Grand Prix Formula 1.

Individual   Registration

name surname street address country ticket type additional location purchase date date of birth mobile number amount paid ($)
john smith Transglobal Express PO Box 1234 Bromborough CH62 3NX UK UK The Lounge 3- Day PASS The Parade Lounge Upper Saturday the lounge 5/8/2019 5/1/1989 0491 570 156 5800
braitley Jones 1 Hinkley Road DAWES POINT NSW 2000 AUSTRALIA Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY paddock club 5/8/2019 4/3/1989 0491 570 157 4500
Olivia Williams 57 Whitman St, Mirriwinni, QLD 4871 Queensland Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY paddock club 6/8/2019 8/5/1987 0491 570 158 3690
Ava brown 46 Australia St, St Marys, NSW 2760 New South Whales, Australia race cube Lounge 1- Day PASS race cube Middle SUNDAY race cube 8/8/2019 6/9/1988 0491 570 159 2500
Grace lee 6 Australia Rd, Barden Ridge, NSW 2234 New South Whales, Australia race cube Lounge 4- Day PASS race cube Middle Friday race cube 10/8/2019 10/8/1986 0491 570 110 3582
Ella Johnson 64 Australia St, Camperdown, NSW 2050 New South Whales, Australia Paddock Club Lounge 2- DAY PASS Chicane Pavilion Lower SATURDAY paddock club 8/8/2019 8/8/1960 +61 491 570 156 6000
Mia Taylor 27 Hmas Australia Rd, Henley Beach South, SA 5022 Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY paddock club 11/8/2019 7/2/1980 +61 491 570 157 4100
Amelia martin 2 Australia Drv, Terranora, NSW 2486 Australia The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY the lounge 6/8/2019 3/4/1900 +61 491 570 158 2100
Jacob white 40 Daley Rd, Australian National University, ACT 0200 Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY paddock club 9/8/2019 5/10/1984 +61 491 570 159 1200
Samuel Ryan 47 Australian Ave, Clovelly Park, SA 5042 South Africa race cube Lounge 4- Day PASS race cube Middle SUNDAY race cube 9/8/2019 9/8/1989 +61 491 570 110 5780
Charlie Thomson 7 Australian Ave, Clovelly Park, SA 5042 South Africa Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY paddock club 10/8/2019 10/8/1988 +61 1900 654 321 3360
Edward Thomas 59 Australia Drv, Taylors Lakes, VIC 3038 Victoria, Australia race cube Lounge 4- Day PASS race cube Middle Friday race cube 7/8/2019 1/9/1980 1900 654 321 5200
harry walker 148 Australia Av, Umina Beach, NSW 2257 New South Whales, Australia The Lounge 2- Day PASS The Parade Lounge Upper Saturday the lounge 7/8/2019 7/8/2019 61 455 544 152 3120
Joseph Robinson 17 Hmas Australia Rd, Henley Beach South, SA 5022 South Africa Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY paddock club 10/8/2019 1/9/1984 61 455 544 153 1230
Marcus Anderson 18 Australia Ave, Matraville, NSW 2036 New South Whales, Australia race cube Lounge 1- Day PASS race cube Middle SATURDAY race cube 11/8/2019 2/10/1989 61 455 544 156 5460
Henry brown Bowden St, Kersbrook, SA 5231 South Africa The Lounge 3- Day PASS The Parade Lounge Upper FRIDAY the lounge 5/8/2019 3/10/1988 61 481 550 156 3620
Sophie Jones 119 Hat Hill Rd, Blackheath, NSW 2785 Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY paddock club 10/8/2019 4/10/1989 0491 570 150 4420
Isabella Wilson 228 Main Rd, Maroochydore, QLD 4558 Queensland race cube Lounge 4- Day PASS race cube Middle SUNDAY race cube 7/8/2019 7/8/1991 0491 570 151 6580
Georgia Campbell 5 Jewell Crt, Parkhurst, QLD 4702 Queensland race cube Lounge 4- Day PASS race cube Middle SUNDAY race cube 11/8/2019 11/8/1989 0491 570 152 2590
Lucy Kelly 50 Quintana Ave, Baulkham Hills, NSW 2153 New South Whales, Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY paddock club 5/8/2019 15/10/1989 0491 570 153 1250
Audrey king 142 Albert St, Bethania, QLD 4205 Queensland The Lounge 2- Day PASS The Parade Lounge Upper Saturday the lounge 11/8/2019 24/5/1989 0491 570 115 6590
hazel smith 10 Waratah St, Granville, NSW 2142 New South Whales, Australia Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY paddock club 10/8/2019 28/5/1987 1900 654 323 5480
Xavier brown 70 Ann St, Cessnock, NSW 2325 New South Whales, Australia race cube Lounge 4- Day PASS race cube Middle Friday race cube 6/8/2019 16/9/1988 61 455 544 154 3620
ryan walker 10 Waratah St, Granville, NSW 2142 New South Whales, Australia The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY the lounge 6/8/2019 11/8/1986 61 455 544 156 2560
Daniel lee 37 Cooper St, Currimundi, QLD 4551 Queensland Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY paddock club 7/8/2019 18/8/1960 61 455 544 159 1620
Jackson Thomas 33 Brock Crs, Dysart, QLD 4745 Queensland The Lounge 2- Day PASS The Parade Lounge Upper Saturday the lounge 9/8/2019 17/2/1980 61 491 570 146 5430
harry robinson 1 Johannson Rd, Kinglake, VIC 3763 Victoria, Australia race cube Lounge 1- Day PASS race cube Middle SUNDAY race cube 8/8/2019 25/10/1984 61 591 570 157 3150
jack Thomson 675 Gympie Rd, Lawton, QLD 4501 Queensland Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY paddock club 10/8/2019 20/8/1989 61 491 571 158 3110
Zara Williams 33 Brock Crs, Dysart, QLD 4745 Queensland The Lounge 3- Day PASS The Parade Lounge Upper Saturday the lounge 5/8/2019 22/8/1988 61 491 570 160 2590

Table 1: individual registration

(Source: created by author)

The above table shows the registration done by each individual for the race event of the Grand Prix   Formula 1. It shows the name, address as well as the birth date of each of the individual. It also states the amount that is paid by each of the individual along with their phone numbers.

Total Sales per Ticket Type

ticket type total amount paid
The Lounge 3- Day PASS The Parade Lounge Upper Saturday 34800
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY 27000
Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY 22140
race cube Lounge 1- Day PASS race cube Middle SUNDAY 20000
race cube Lounge 4- Day PASS race cube Middle Friday 25074
Paddock Club Lounge 2- DAY PASS Chicane Pavilion Lower SATURDAY 30000
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY 28700
The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY 16800
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY 9600
race cube Lounge 4- Day PASS race cube Middle SUNDAY 34680
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY 20160
race cube Lounge 4- Day PASS race cube Middle Friday 36400
The Lounge 2- Day PASS The Parade Lounge Upper Saturday 21840
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY 7380
race cube Lounge 1- Day PASS race cube Middle SATURDAY 43680
The Lounge 3- Day PASS The Parade Lounge Upper FRIDAY 21720
Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY 30940
race cube Lounge 4- Day PASS race cube Middle SUNDAY 39480
race cube Lounge 4- Day PASS race cube Middle SUNDAY 20720
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY 7500
The Lounge 2- Day PASS The Parade Lounge Upper Saturday 39540
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY 38360
race cube Lounge 4- Day PASS race cube Middle Friday 25340
The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY 17920
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY 12960
The Lounge 2- Day PASS The Parade Lounge Upper Saturday 32580
race cube Lounge 1- Day PASS race cube Middle SUNDAY 18900
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY 21770
The Lounge 3- Day PASS The Parade Lounge Upper Saturday 20720

Table 2: total sales per ticket type

(Source: created by author)

This table shows the overall sales on the basis of per ticket in the event of the race. Further, it states the type of ticket that was available in the particular event of race. The amount that was paid was on the basis of the type of ticket that the individual purchased.

The particular calculation is done on the basis of if formulas for 6-8 individual that booked the ticket. This information was collected from the above registration database that was made as per the bookings by the individual. This contained all the information of the people who booked the tickets for the purpose of the event of race.

These data or information is related to the values that were stated in table 1 of this assignment and on the basis of that table calculation for the ticket bookings is made. Table 2 is based on the calculation of 6 to 8 per ticket type that was paid with multiplied to each amount of ticket. Each type of ticket was for six to eight with reference to the amount of the tickets booked.

Total Sales per Ticket Type per Country

sum of sales row labels column labels Australia Canada japan new Zealand philippines russia USA grand total
photos 9000 7700 8025 3100 4200 3110 5075 40210
calendars 7040 900 6060 2500 7770 2690 5400 32360
stickers 3675 1200 520 700 5400 2250 4500 18245
pamphlets 500 400 200 500 400 100 600 2700
grand total 20215 10200 14805 6800 17770 8150 15575 93515

Table 3: Total Sales per Ticket Type per Country

(Source: created by author)

It represents the total of the sales on each ticket paid by per country based on other countries. This type depends on the sales in total with price of each ticket on the basis of per country that has paid the amount for the booking of the event related to the race.

Pivot table

Values
Row Labels Sum of column labels Australia Sum of Canada Sum of japan Sum of new Zealand Sum of philippines Sum of russia Sum of USA Sum of grand total
calendars 7040 900 6060 2500 7770 2690 5400 32360
grand total 20215 10200 14805 6800 17770 8150 15575 93515
pamphlets 500 400 200 500 400 100 600 2700
photos 9000 7700 8025 3100 4200 3110 5075 40210
stickers 3675 1200 520 700 5400 2250 4500 18245
Grand Total 40430 20400 29610 13600 35540 16300 31150 187030

Table 4: pivot table of Total Sales per Ticket Type per Country

(Source: created by author)

It shows the pivot table which represents the above data or the information of slaes on each ticket on the basis of each country.

Figure 1: pivot chart 1

(Source: created by author)

ACCOUNTING

Figure 2: pivot chart 2

(Source: created by author)

ACCOUNTING

Figure 3: pivot chart 3

(Source: created by author)

ACCOUNTING

Figure 4: pivot chart 4

(Source: created by author)

The chats that are created or presented above is a representation of the pivot table and the information related to the particular topic, that is, on the basis of country on per ticket of the type of ticket sold.

The Race Event Budget

Budget showing income/funding

For the year ended 2020

Grand Prix Formula 1

income/ funding          
description unit cost estimate quantity estimate amount actual quantity actual amount
registration 154.5 100 30000 11 1699.5
sales (t shirts) 77.25 100 15000 110 8497.5
sales (guernseys) 103 100 20000 209 21527
sales (caps) 30.9 100 15000 539 16655.1
sponsors (major) 51500 100 150000 2.2 113300
sponsors (minor) 10300 100 100000 13.2 135960

Table 5: budget showing income or funding for 2020

(Source: created by author)

This represents the budget for the year ended 2020of the race event held by Grand Prix Formula 1. The budget is almost the same with that of the previous or last year 2019. The main change in the budget is that there is a 10% increase in the quantity that was actually sold.  Further, there is also an increase in the cost per unit of per category with a 3% change in the year of 2020.

Budget showing expenses

For the year ended 2020

Grand Prix Formula 1

Expenses        
Description Category Quantity Unit  cost Amount
trail rental location 52.5 2575 135187.5
staff event 52.5 257.5 13518.75
staff and volunteer meals food and drink 105 51.5 5407.5
canopy tents supplies 52.5 515 27037.5
t shirts other 210 72.1 15141
guernseys other 525 51.5 27037.5

Table 6: budget showing expenses for 2020

(Source: created by author)

The above table suggests the expenditure that was made by the company in the event of race. This is further evaluated on the basis of various categories that was made while carrying out the event. There is column stating the description as well as it also shows the categories to which it falls under. There is a  change in the quantity that was actually required which increased to 55 more than last year along with 3% rise in per category.

Budget Summary Report

Budget summary of Grand Prix Formula 1

For the race event

For the year ended 2020

Budget summary amount($)
total actual income 297639.1
total expenses 223329.8
balance 74309.3

Table 7: budget summary of the Grand Prix Formula 1 for the race event

(Source: created by author)

The balance regarding the summary of the budget is mentioned above to indicate the balance left after deducting the expenses and the income.

Summary of income of the race event of

Grand Prix Formula 1

For the year ended 2020

summary of income
income
registration 1699.5
sales (t shirts) 8497.5
sales (Guernsey) 21527
sales (caps) 16655.1
sponsors (major) 113300
sponsors (minor) 135960
total 297639.1

Table 8: Summary of income of the race event of Grand Prix Formula 1

(Source: created by author)

It states the overall income that was earned during the event which was related to race for the particular company. It shows the amount that was earned which included various categories which contributed to the part of income.

Summary of expenses of the race event of

Grand Prix Formula 1

For the year ended 2020

summary of expenses
expenses
location 135187.5
event 13518.75
food and drink 5407.5
supplies 27037.5
other 15141
other 27037.5
total 223329.8

Table 9: Summary of expenses of the race event of Grand Prix Formula 1

(Source: created by author)

The above table presents the total expenditure that was incurred by the company for the execution of events. In other words, it represents the expenditure made by the company to carry out the event.

Analysis and Recommendations

As per the analysis, it can be seen that the company has made a certain amount of expenditure and has also earned income in a proper proportion. This can be properly analyzed by depicting the summaries in the particular part are that they can be further properly analyzed.

Budget summary of Grand Prix Formula 1

For the race event

For the year ended 2020

Budget summary amount($)
total actual income 297639.1
total expenses 223329.8
balance 74309.3

Table 10: budget summary of the Grand Prix Formula 1 for the race event

(Source: created by author)

As per the above table it can be analyzed that the balance remained with the company is enough to carry out the event related to the race.

Summary of income of the race event of

Grand Prix Formula 1

For the year ended 2020

summary of income
income
registration 1699.5
sales (t shirts) 8497.5
sales (guernseys) 21527
sales (caps) 16655.1
sponsors (major) 113300
sponsors (minor) 135960
total 297639.1

Table 11: Summary of income of the race event of Grand Prix Formula 1

(Source: created by author)

It helps in analysis for the expenses that were made by the company which is less than the income, which proves to be profitable for the company.

Summary of expenses of the race event of

Grand Prix Formula 1

For the year ended 2020

summary of expenses
expenses
location 135187.5
event 13518.75
food and drink 5407.5
supplies 27037.5
other 15141
other 27037.5
total 223329.8

Table 12: Summary of expenses of the race event of Grand Prix Formula 1

(Source: created by author)

Recommendations regarding the particular situation are that the company must improve its income more than last year that is 2019, so that it can earn more profits.

Conclusion

It is finally concluded that a company must consider their profits and try to increase their profit as compared to the last financial year. Further, it is also seen that expenses made by the company falls under various categories, which must be identified. This is because this category can be used by a company in future so that it can identify the major cost in the category and can reduce such cost. Moreover, budget report of a company is compulsory to maintain so that they can consider the expenditure and income, which will help a company to know its financial position in the particular year.

References

Asatiani, A., Apte, U., Penttinen, E., Rönkkö, M., & Saarinen, T. (2019). Impact of accounting process characteristics on accounting outsourcing-Comparison of users and non-users of cloud-based accounting information systems. International Journal of Accounting Information Systems34, 100419.

Castellano, N. G., Lamboglia, R., & Mancini, D. (2017). Reshaping Accounting and Management Control Systems. K. Corsi (Ed.). Springer.

Castellano, N. G., Lamboglia, R., & Mancini, D. (2017). Reshaping Accounting and Management Control Systems. K. Corsi (Ed.). Springer.

Cleary, P. (2017). Introduction to Accounting Information Systems. In The Routledge Companion to Accounting Information Systems (pp. 3-12). Routledge.

Gelinas, U. J., Dull, R. B., Wheeler, P., & Hill, M. C. (2017). Accounting Information Systems. Cengage Learning.

Huerta, E., & Jensen, S. (2017). An accounting information systems perspective on data analytics and Big Data. Journal of Information Systems31(3), 101-114.

Miller, R. P., Bunn, E., & Noe, K. (2016). Accounting Information Systems: A View from the Public Eye. The International Business & Economics Research Journal (Online)15(5), 265.

Patel, F. (2015). Effects of accounting information system on organizational profitability. International Journal of Research and Analytical Reviews2(1), 168-174.

Quinn, M., & Strauss, E. (Eds.). (2017). The Routledge Companion to Accounting Information Systems. Routledge.

Turner, L., Weickgenannt, A. B., & Copeland, M. K. (2016). Accounting Information Systems: The Processes and Controls. John Wiley & Sons.

 

Leave a Comment