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

namesurnamestreet addresscountryticket typeadditional locationpurchase datedate of birthmobile numberamount paid ($)
johnsmithTransglobal Express PO Box 1234 Bromborough CH62 3NX UKUKThe Lounge 3- Day PASS The Parade Lounge Upper Saturdaythe lounge5/8/20195/1/19890491 570 1565800
braitleyJones1 Hinkley Road DAWES POINT NSW 2000 AUSTRALIAAustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAYpaddock club5/8/20194/3/19890491 570 1574500
OliviaWilliams57 Whitman St, Mirriwinni, QLD 4871QueenslandPaddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAYpaddock club6/8/20198/5/19870491 570 1583690
Avabrown46 Australia St, St Marys, NSW 2760New South Whales, Australiarace cube Lounge 1- Day PASS race cube Middle SUNDAYrace cube8/8/20196/9/19880491 570 1592500
Gracelee6 Australia Rd, Barden Ridge, NSW 2234New South Whales, Australiarace cube Lounge 4- Day PASS race cube Middle Fridayrace cube10/8/201910/8/19860491 570 1103582
EllaJohnson64 Australia St, Camperdown, NSW 2050New South Whales, AustraliaPaddock Club Lounge 2- DAY PASS Chicane Pavilion Lower SATURDAYpaddock club8/8/20198/8/1960+61 491 570 1566000
MiaTaylor27 Hmas Australia Rd, Henley Beach South, SA 5022AustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAYpaddock club11/8/20197/2/1980+61 491 570 1574100
Ameliamartin2 Australia Drv, Terranora, NSW 2486AustraliaThe Lounge 5- Day PASS The Parade Lounge Lower SATURDAYthe lounge6/8/20193/4/1900+61 491 570 1582100
Jacobwhite40 Daley Rd, Australian National University, ACT 0200AustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAYpaddock club9/8/20195/10/1984+61 491 570 1591200
SamuelRyan47 Australian Ave, Clovelly Park, SA 5042South Africarace cube Lounge 4- Day PASS race cube Middle SUNDAYrace cube9/8/20199/8/1989+61 491 570 1105780
CharlieThomson7 Australian Ave, Clovelly Park, SA 5042South AfricaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAYpaddock club10/8/201910/8/1988+61 1900 654 3213360
EdwardThomas59 Australia Drv, Taylors Lakes, VIC 3038Victoria, Australiarace cube Lounge 4- Day PASS race cube Middle Fridayrace cube7/8/20191/9/19801900 654 3215200
harrywalker148 Australia Av, Umina Beach, NSW 2257New South Whales, AustraliaThe Lounge 2- Day PASS The Parade Lounge Upper Saturdaythe lounge7/8/20197/8/201961 455 544 1523120
JosephRobinson17 Hmas Australia Rd, Henley Beach South, SA 5022South AfricaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAYpaddock club10/8/20191/9/198461 455 544 1531230
MarcusAnderson18 Australia Ave, Matraville, NSW 2036New South Whales, Australiarace cube Lounge 1- Day PASS race cube Middle SATURDAYrace cube11/8/20192/10/198961 455 544 1565460
HenrybrownBowden St, Kersbrook, SA 5231South AfricaThe Lounge 3- Day PASS The Parade Lounge Upper FRIDAYthe lounge5/8/20193/10/198861 481 550 1563620
SophieJones119 Hat Hill Rd, Blackheath, NSW 2785AustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAYpaddock club10/8/20194/10/19890491 570 1504420
IsabellaWilson228 Main Rd, Maroochydore, QLD 4558Queenslandrace cube Lounge 4- Day PASS race cube Middle SUNDAYrace cube7/8/20197/8/19910491 570 1516580
GeorgiaCampbell5 Jewell Crt, Parkhurst, QLD 4702Queenslandrace cube Lounge 4- Day PASS race cube Middle SUNDAYrace cube11/8/201911/8/19890491 570 1522590
LucyKelly50 Quintana Ave, Baulkham Hills, NSW 2153New South Whales, AustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAYpaddock club5/8/201915/10/19890491 570 1531250
Audreyking142 Albert St, Bethania, QLD 4205QueenslandThe Lounge 2- Day PASS The Parade Lounge Upper Saturdaythe lounge11/8/201924/5/19890491 570 1156590
hazelsmith10 Waratah St, Granville, NSW 2142New South Whales, AustraliaPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAYpaddock club10/8/201928/5/19871900 654 3235480
Xavierbrown70 Ann St, Cessnock, NSW 2325New South Whales, Australiarace cube Lounge 4- Day PASS race cube Middle Fridayrace cube6/8/201916/9/198861 455 544 1543620
ryanwalker10 Waratah St, Granville, NSW 2142New South Whales, AustraliaThe Lounge 5- Day PASS The Parade Lounge Lower SATURDAYthe lounge6/8/201911/8/198661 455 544 1562560
Daniellee37 Cooper St, Currimundi, QLD 4551QueenslandPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAYpaddock club7/8/201918/8/196061 455 544 1591620
JacksonThomas33 Brock Crs, Dysart, QLD 4745QueenslandThe Lounge 2- Day PASS The Parade Lounge Upper Saturdaythe lounge9/8/201917/2/198061 491 570 1465430
harryrobinson1 Johannson Rd, Kinglake, VIC 3763Victoria, Australiarace cube Lounge 1- Day PASS race cube Middle SUNDAYrace cube8/8/201925/10/198461 591 570 1573150
jackThomson675 Gympie Rd, Lawton, QLD 4501QueenslandPaddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAYpaddock club10/8/201920/8/198961 491 571 1583110
ZaraWilliams33 Brock Crs, Dysart, QLD 4745QueenslandThe Lounge 3- Day PASS The Parade Lounge Upper Saturdaythe lounge5/8/201922/8/198861 491 570 1602590

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 typetotal amount paid
The Lounge 3- Day PASS The Parade Lounge Upper Saturday34800
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY27000
Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY22140
race cube Lounge 1- Day PASS race cube Middle SUNDAY20000
race cube Lounge 4- Day PASS race cube Middle Friday25074
Paddock Club Lounge 2- DAY PASS Chicane Pavilion Lower SATURDAY30000
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY28700
The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY16800
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY9600
race cube Lounge 4- Day PASS race cube Middle SUNDAY34680
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY20160
race cube Lounge 4- Day PASS race cube Middle Friday36400
The Lounge 2- Day PASS The Parade Lounge Upper Saturday21840
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY7380
race cube Lounge 1- Day PASS race cube Middle SATURDAY43680
The Lounge 3- Day PASS The Parade Lounge Upper FRIDAY21720
Paddock Club Lounge 3- DAY PASS Chicane Pavilion upper SATURDAY30940
race cube Lounge 4- Day PASS race cube Middle SUNDAY39480
race cube Lounge 4- Day PASS race cube Middle SUNDAY20720
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SATURDAY7500
The Lounge 2- Day PASS The Parade Lounge Upper Saturday39540
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY38360
race cube Lounge 4- Day PASS race cube Middle Friday25340
The Lounge 5- Day PASS The Parade Lounge Lower SATURDAY17920
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower FRIDAY12960
The Lounge 2- Day PASS The Parade Lounge Upper Saturday32580
race cube Lounge 1- Day PASS race cube Middle SUNDAY18900
Paddock Club Lounge 3- DAY PASS Chicane Pavilion Lower SUNDAY21770
The Lounge 3- Day PASS The Parade Lounge Upper Saturday20720

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 labelscolumn labels AustraliaCanadajapannew ZealandphilippinesrussiaUSAgrand total
photos900077008025310042003110507540210
calendars70409006060250077702690540032360
stickers3675120052070054002250450018245
pamphlets5004002005004001006002700
grand total20215102001480568001777081501557593515

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 LabelsSum of column labels AustraliaSum of CanadaSum of japanSum of new ZealandSum of philippinesSum of russiaSum of USASum of grand total
calendars70409006060250077702690540032360
grand total20215102001480568001777081501557593515
pamphlets5004002005004001006002700
photos900077008025310042003110507540210
stickers3675120052070054002250450018245
Grand Total40430204002961013600355401630031150187030

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     
descriptionunit costestimate quantityestimate amountactual quantityactual amount
registration154.510030000111699.5
sales (t shirts)77.25100150001108497.5
sales (guernseys)1031002000020921527
sales (caps)30.91001500053916655.1
sponsors (major)515001001500002.2113300
sponsors (minor)1030010010000013.2135960

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  costAmount
trail rentallocation52.52575135187.5
staffevent52.5257.513518.75
staff and volunteer mealsfood and drink10551.55407.5
canopy tentssupplies52.551527037.5
t shirtsother21072.115141
guernseysother52551.527037.5

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 summaryamount($)
total actual income297639.1
total expenses223329.8
balance74309.3

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
registration1699.5
sales (t shirts)8497.5
sales (Guernsey)21527
sales (caps)16655.1
sponsors (major)113300
sponsors (minor)135960
total297639.1

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
location135187.5
event13518.75
food and drink5407.5
supplies27037.5
other15141
other27037.5
total223329.8

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 summaryamount($)
total actual income297639.1
total expenses223329.8
balance74309.3

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
registration1699.5
sales (t shirts)8497.5
sales (guernseys)21527
sales (caps)16655.1
sponsors (major)113300
sponsors (minor)135960
total297639.1

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
location135187.5
event13518.75
food and drink5407.5
supplies27037.5
other15141
other27037.5
total223329.8

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

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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.

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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.

 

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