University Case Study: ACCT6001 Accounting Information System Analysis

This case study analyzes the accounting information system of a Formula 1 Grand Prix event. It examines six ticket types, analyzing sales revenue from various countries and presenting the data through worksheets and charts. The analysis includes individual registration, total sales per ticket type, and country-wise sales comparisons. The study offers recommendations for improvement, such as providing additional facilities for overseas customers, enhancing advertising campaigns, and improving the online booking system. Furthermore, the case study provides a budget analysis for the year 2020 based on 2019 data, including estimated sales, expenses, and projected profit, along with recommendations for marketing and sponsorship activities. The document includes a bibliography with relevant accounting resources.

Running head: ACCOUNTING INFORMATION SYSTEM
Accounting Information System
Name of the Student:
Name of the University:
Author’s Note:

1ACCOUNTING INFORMATION SYSTEM
Table of Contents
1. Individual Registration Worksheet:.......................................................................................2
2. Total Sales per Ticket Type Worksheet:................................................................................2
3. Total Sales per Ticket Type per Country Worksheet:............................................................3
4. The Race Event Budget Worksheet:......................................................................................4
5. Budget Summary Report Worksheet:....................................................................................4
6. Analysis and Recommendations Worksheet:.........................................................................5
Bibliography:..............................................................................................................................6

2ACCOUNTING INFORMATION SYSTEM
1. Individual Registration Worksheet:
2. Total Sales per Ticket Type Worksheet:

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3. Total Sales per Ticket Type per Country Worksheet:

4ACCOUNTING INFORMATION SYSTEM
4. The Race Event Budget Worksheet:
5. Budget Summary Report Worksheet:

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6. Analysis and Recommendations Worksheet:
In this case study, six ticket types of Australian Grand Prix Event have been
considered for analysis for the week starting from 05.08.19 to 11.08.19. From the individual
registration worksheet it can be observed that people from various countries are booking the
tickets individually. It can be observed that, there is maximum sales revenue from the ticket
type FORMULA ONE PADDOCK CLUB™ LOUNGE, Saturday, Sunday including
registration from all the countries and the minimum collection is from the ticket type
CHICANE PAVILION LOWER, Saturday, Sunday which is only $6,740. From the country
wise summary total sales, it can be observed that the maximum sales are registered from the
Australia for an amount of $24,715 and the minimum sales are registered from Russia which
is only $4,035. The comparative country wise sales can be presented using the bar chart as
follows.
Australia
Canada
Japan
Mexico
New Zealand
Russia
United Kingdom
United States
$-
$5,000.00
$10,000.00
$15,000.00
$20,000.00
$25,000.00
$30,000.00
Sales per Country
Total
Based on the above analysis it can be recommended that, there must be some
additional facilities and discounts offered to the overseas customers as they are coming from
abroad which costs them with some additional travelling expenses. It also can be
recommended that, the advertising campaign should be improved and online advertisement

6ACCOUNTING INFORMATION SYSTEM
medium can be used through the social networking platforms. And lastly it can be
recommended that, they need to make their online booking system more flexible and easy for
hassle free ticket booking and customer support and customers’ complaint resolution.
In the previous section an estimate of the sales and expenses have been made for the
year 2020 based on the actual sales and expenses information of the year 2019. An estimated
profit of $89,625 has been projected if the estimated units of sales could be achieved. It is
expected that the unit sales will be increasing by 10% except the registration of individual
which is assumed to be 100 and all the expenses will be increasing by 3%. Applying that
estimates the expenses have been inflated to find out the total estimated expenses for the year
202 and the total estimated expenses comes to $212,695. It can be observed from the
summary of expenses that the location cost is the major component of the total expenses and
also a significant amount are spent on the supplies. It can be observed from the 2019 budget
that in terms of registration, only 55 of the estimate could be achieved and in case of sale of
T-Shirts only 50% of the estimate could be achieved. Hence, it can be suggested that, they
need to concentrate on the marketing and sales promotional activities for the sales of
merchandise and they need to offer the discounts in early booking of the tickets to increase
the number of registrations. It can also be observed that, 67% of the major sponsorship target
could be achieved in the year 2019; hence, it is recommended that, they should take certain
initiatives which could increase their relationships with the corporations from where they can
arrange more sponsorship.

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Bibliography:
Collier, P. M. (2015). Accounting for managers: Interpreting accounting information for
decision making. John Wiley & Sons.
Libby, R. (2017). Accounting and human information processing. In The Routledge
Companion to Behavioural Accounting Research (pp. 42-54). Routledge.
Maskell, B. H., Baggaley, B., & Grasso, L. (2017). Practical lean accounting: a proven
system for measuring and managing the lean enterprise. Productivity Press.
Schaltegger, S., & Burritt, R. (2017). Contemporary environmental accounting: issues,
concepts and practice. Routledge.
Tickets Search | Formula 1® Australian Grand Prix. (2019). Grandprix.com.au. Retrieved 7
August 2019, from https://www.grandprix.com.au/tickets/search
Uyar, A., Gungormus, A. H., & Kuzey, C. (2017). Impact of the accounting information
system on corporate governance: Evidence from Turkish non-listed
companies. Australasian Accounting, Business and Finance Journal, 11(1), 9-27.