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Introduction to Accounting Information Systems

   

Added on  2020-11-12

10 Pages3036 Words149 Views
Accounting InformationSystems1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK...............................................................................................................................................31. Discussion on existing accounting software:...........................................................................32. Description on role of accountant in existing software:..........................................................63. Recommendation for system improvement in the existing accounting software:...................7Summary..........................................................................................................................................9REFERENCES..............................................................................................................................102

INTRODUCTIONAccounting information system refers to set of activities related to collection, storage andprocessing of data related to accounting and finance which is generally useful for internal usersin order to reporting to external users like lenders and creditors, tax authorities etc. It is mostcommon and computerised method to trace accounting activities from beginning to end whileusing various information technology means (Bushman and Williams, 2012). This reportdiscusses about Air-Asia which is a Malaysian airline company. Company has its headquarter inMalaysia and address of company is Red Q, Jalan Pekeliling 5, Lapangan TerbangAntarabangsa Kuala Lumpur (klia2),64000 KLIA, Selangor, Malaysia. The main activities ofcompany are to provide Air transportation services across the world. Company also provideshotel services and tour packages along with flight tickets. Company sponsors many functionsand events held mostly in Malaysia and also plan events in order to provide event tickets alongwith flight tickets.This report also describes financial highlights of Air-Asia. Company has reported totalrevenue of RM 9710 millions in 2017 whereas RM 6846 millions in 2016. Company's operatingincome is increased to RM 2161 millions in 2017 which was RM 2066 millions in 2016. Onother hand Net profit of company has decreased in 2017. In 2017 company has reported Netprofit of RM 1571 million which in 2016 was RM 1619 millions. In 2017 company's net debtsare reduced by RM 1412 millions. Company's common stock is increased to RM 2515 millionsbecause company received full amount on additional paid in capital. Air-Asia has acquired acompany named VIDI(Formerly Touristly) in April, 2017 for $2.6 millions due to whichshareholder's equity, assets and liabilities are increased. Company is currently using Xero, anaccounting software for accounting and reporting purpose (Financial Highlights, 2018).3

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