Assignment on

WALTON GROUP

Submitted To
Mohammed Naveed Adnan Siddique
Lecture, Department of Accounting
Independent University, Bangladesh (IUB)
Corse Title: Accounting Information System
Section: 01
Course Id: 441

Submitted By
MD Ahteshamul Haque
Id Number: 1721621

Date of Submission: 28TH APRIL, 2021

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 Letter of transmittal

28th April, 2021

Mohammed Naveed Adnan Siddique

Lecturer

School of Business Administration

Independent University, Bangladesh

Subject: Report on Walton Group.

Dear Sir,

I have done this assignment for the ACN441 on the topic of “WALTON GROUP”. The
assignment has been completed by the knowledge that we have gathered from the course
“ACN441”. I am thankful to all those who provided me guidelines information and helped us by
giving valuable information. I would be glad if you read the report and we will try our best to
answer all the questions you want to ask about the assignment.

I tried our best to complete the assignment correctly. I do hope that this will help you to get
through the whole process. However, if you have any queries regarding this assignment, I will be
more than happy to clear out those queries without any hesitation.

Yours sincerely,

MD Ahteshamul Haque

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 Acknowledgement

I am grateful because I managed to complete our “ACN441” assignment within the time given
by our honorable faculty “Mr. Mohammed Naveed Siddique.” especially thanks to him. This
assignment cannot be completed without the effort of mine and my honorable faculty.

I also sincerely thank our lecturer of ACN441, for the guidance and encouragement in finishing
this assignment and for teaching us in this course. Last but not least, we would like to express
our gratitude to our friends and respondents for the support and willingness to spend some times
with us to fill in the questionnaires.

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 Table of Content

Name Page Number

Executive Summary
Company Description: Walton
Expenditure cycle
Conversion cycle
Advantages in using AIS system
Conclusion
References

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Executive Summary

Walton is the pioneer of electric item manufacturing in Bangladesh with the slogan "Made in
Bangladesh". Beginning from 2006, they are presently the principal global assembling
organization of Bangladesh. Defeating every one of the obstacles they are currently addressing
Bangladesh with their excellent item everywhere on the world. Catching the local market with
their electronic items, presently they are additionally manufacturing bike vehicles. With low
work cost they are offering profoundly reasonable cost to the purchasers. All their unfamiliar
rivals are having extreme rivalry in every one of the areas yet Walton has made and special
brand picture by marking Bangladesh. They have fanned out their promoting and administration
network everywhere on the country. Presently they have the best promoting network in South
Asia with unrivaled help. Among all other good quality products their refrigerator is the most
popular and widely accepted that has captured 70% of the local market share.

In this association Walton is doing very acceptable in this highly competitive electronics market.
And there is a tremendous role of the dealers to promote the products through effective
salesmanship to the customers. They are vital importance for every company because they make
a huge contribution in marketing and promoting of electronics products.

I found that the percentage of Walton’s electronics products sale per week is 31 to 40, which is
relatively higher than other competitors but in case of the refrigerator the percentage is only 10,
which needs to be higher in order to capture market share effectively. In the case of customer
satisfaction, that 27.5% of the respondents found Walton’s services as satisfactory. 70% of the
respondents think that the price isn’t good enough and only 30% is the opposite thinker. 72.5%
of respondents said that the advertising programs of Walton isn’t effective enough.

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Company Description: WALTON

Walton group of industries is the leading group of Bangladesh founded in 1977, by S.M. Nurul
Alam Rezvi as a trading company. Walton is the most recent worldwide electrical, hardware,
cars and different apparatuses brand with one of the biggest exceptional R and D offices on the
planet helped out its creation through various auxiliaries under the standard of Walton group
headquarters in Bangladesh. Today, Walton has a labor force of more than 20000+ in total 22
creation bases under 680+ sections of land of production line territory. The limit of yearly
creation is 10 million units based on the market demands. Walton is the giant proficient maker in
the significant business and has acquired high standing regarding its phenomenal capacity for
delivering Electrical and Electronics products in the most competitive way in aspect of quality,
cost, design and innovation.

Walton Hi-Tech Industries Limited, commonly referred to as Walton, is a private limited

company of Bangladesh. It is a sister concern of R.B. Group. Walton is one of the largest
electrical, electronics and automobiles manufacturing companies in South Asia. Its headquarters
is situated ay Dhaka, Bangladesh.

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Expenditure cycle of Walton Group

Walton is a notable organization in Bangladesh that works in electronics. It is focused on

creating and giving great merchandise that empower clients to encounter greater fervor and
accommodation. The expenditure cycle is the set of activities related to the acquisition of and
payment for goods and services. These activities include the determination of what needs to be
purchased, purchasing activities, the receipt of goods, and payments to suppliers.

The Walton expenditure cycle is included a few particular segments: purchase or accounts
payable system, cash disbursement systems, payroll systems, and fixed assets system. The
enterprise should acknowledge vendor invoices and assign reserves cash installments in the wake
of purchasing and receiving products. The full expenditure cycle contains the following
activities:

 Purchases and cash disbursement systems

Purchase's procedures including the assignments associated with distinguishing Walton stock
requirements, putting in the request, accepting the stock, and perceiving the obligation.

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Purchase's techniques apply to both assembling and retailing. The assembling office purchases
Walton associations raw materials, production, and the purchase completed products for resale.

 Receiving and storing these items

To address stock data, the receipt of things should be sent to the request preparing capacity. The
receiving department's two primary errands are deciding if to permit dissemination and checking
the sum and state of delivered items. Tolerating an unstructured product sits around idly, dealing
with, and capacity. The last movement is paying suppliers. The cashier, who reports to the
financier, is liable for paying providers.

 Fixed assets systems

The fixed assets framework is the property, plant, and hardware Walton utilized for its own
association's perpetual things and addresses the association's biggest monetary speculation. Own
structures, gear, apparatus land are Walton's fixed assets. Fixed assets need to keep a record of
the asset's acquisitions, cost, and depictions, appropriately record the retirement and removal of
fixed assets.

 General Ledger

The possibility that changing journal entries and different exchanges are regularly delivered
straightforwardly to the overall accounting system or straightforwardly to the financial records,
instead of to the pertinent journal, is more significant than the sort. Walton Group computation
exchanges, like the derivation for terrible obligation and related expense, are regularly assessed
utilizing measurements from the overall record, current business rates, and other critical factors,
which might be complex and time consuming or loan yourself to diary passages because of
conditions.

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Revenue cycle of Walton Group

The revenue cycle is to give labor and products to customers and gather cash as installments
from the deals. The revenue cycle gives deals request and money receipt two systems to pay
from customers. The revenue cycle takes this structure where a merchant and a purchaser trade
completed merchandise or administrations for cash in a solitary arrangement.

Walton utilizes Accounting Information System for their revenue cycle tasks in Bangladesh since
they are as yet engaged with web-based business. In AIS, innovative advancement is viewed as a
nonstop cycle, with mechanization toward one side and reengineering at the other. Robotization
is the way toward utilizing innovations to build profitability and viability.

 Sales order
Just products (benefits) that are recorded on their site are qualified for this program. The
customer initiates the purchase process by calling the outreach group and making a request. The
agent brings down the entirety of the significant subtleties.

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The sales department sends duplicates of the offering request to the accounting, storage, and
delivery departments after the customer submits a request. The distribution center division
representative gets the business request's stocks discharge duplicate and uses it to choose the
things. From that point onward, item and stock delivery data are submitted to the Shipping
Department.

The delivery agent thinks about the things conveyed from the processing plant to the delivery
note. The item is stuffed and conveyed to the customer after a bill of driving is readied.
Following that the changed deals request record, system message, and records. Auxiliary record
with receivables.

 Cash Receipts
In a protected official mail pocket, place all checks, money, and a duplicate of the sorting room
check receipt list. Convey it to the accounting office's cashier by hand. The cashier thinks about
the entirety of the things in the pocket to the sorting room check receipts log, initials a duplicate
of the rundown, and sends the first to the sorting room by official mail. The initialed duplicate is
then recorded by information by the sorting room representatives. Record the payment system
where there is no indication of which receipt to be credited.

For Walton Group, comment on how accounting information system

generates long term competitive for the organization

 WALTON GROUP
Walton is one of Southern Asia's largest manufacturers of electrical, electronics and
automobiles. The products of Walton have already earned the hearts of millions in Bangladesh

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for excellent designs, quality and affordable prices. Walton has emerged among all consumer
brands as the most popular Bangladesh electrical, electronics and automotive brand.

 Accounting Information Systems are frameworks used to record the monetary

exchanges of a business or organization. This framework consolidates the approaches,
controls and bookkeeping methods with the innovation of the IT business: user interface,
computers and sophisticated software. The software used to track transactions provides
internal reporting data, external reporting data, financial statements, and trend analysis
capabilities. Accounting information Systems mainly provide a computer-based method.

Advantages of using Accounting information system (AIS)

The principal advantages of an accounting information system are the improved speed of
preparing the numbers, productive association, and order and security of inputted information.
The advantage of using accounting information systems are:

 Time Efficiency: Having an accounting information system, the majority of the works
are finished by programming and all the information refreshing autumnally. AIS has
helped business associations to decrease the measure of time engaged with recording,
ordering, announcing any monetary data.
 Decision making: For Walton Group, AIS empowers better examination and decision
making in the association, in which it can reduce the expense portion. Accounting has
been established as a fundamental wellspring of data for the dynamic interaction in
Walton company. Similarly, accounting is a control instrument, it serves to give budget
reports for decision-making purposes and decide the utility that would help an
organization in every period. Also, it intends to deliver reports, which analyzed and
interpreted, permit to plan, control and settle on choices about the action of the
organization.

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 Easy access: Information put away in AIS can be recovered through data framework
associated with internet anyway. Where physically arranged books of records can't be
conveyed effectively.

 Cost effectiveness: Accounting information systems reduce organizations' costs. AIS has
helped to reduce manual efforts and can perform the same operation more cost-
effectively. All working things are keeping up by pc based. That is the reason embraces
sum work preparing by AIS and then again bookkeeping programming can diary, records
preliminary equilibrium are recorded in the PC information based.
 Internal control: The benefits of internal control are self-evident, since they lead to an
all the more effectively run association. Strong internal controls will guarantee an
organization's assets are used uniquely for their expected purposes, incredibly limiting
the danger of asset abuse. At times internal control characterized by guaranteeing
hierarchical bookkeeping, monetary and evaluating
 Interdepartmental interfacing: Inside the framework, the sales department can transfer
the business spending plan. This data is utilized by the stock supervisory group to lead
stock checks and buy materials. Upon the acquisition of stock, the framework can advise
the records payable branch of the new receipt. An AIS can likewise share data about
another request with the goal that the assembling, delivery, and client care offices know
about the deal.
 Accuracy: The data and reports created are exact and very dependable for dynamic. In
this situation, by having a computer-based accounting information system, it gives you
the efficiency that you need for your business. The advantage of having AIS is that it
mechanizes announcing, making everything only a couple clicks away when your
organization heads require monetary reports from your group. AIS have an added
advantage of accurate data.
 Management Information: For the Walton Group, reports can be created which will
help the board screen and control the business, for example the matured debt holder's

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 examination will show which client accounts are late, preliminary equilibrium,
exchanging and benefit and misfortune record and accounting report.

Porter’s Five Forces Model of Walton Group

In this section, we will examine the intensity of the current commercial center of Walton group.
Porter's five forces model has the capacity to finish up the seriousness of a market. It can assist
an organization with understanding the design of its industry and stake out a place that is more
productive and less defenseless against assault.

The current economic situations in Bangladesh are dynamic and the clients need more than items
from organizations. They need services, more data, an appropriate mix of item and cost with

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their pay, longer after deals services and much more. Let's take a look at how competitive
Walton marketplace is.

Threat of New Entrants

In principle, any firm should be able to enter furthermore, leave a market, and assuming free

section and leave exists, benefits consistently ought to be ostensible. In appliances industry
diseconomies of scales is seen. That implies Walton can't create yields with least unit cost
conceivable. Threat of new entrants is moderate since Walton Group has huge brand character
and huge restrictive item contrasts.

Bargaining Power of Buyers

The power of buyers is the effect that clients have on a delivering industry. Bargaining power of
clients is high since they can change to close contenders helpfully with no expense. Today's
buyers are more delicate on the blend of items and costs just as the subtleties of items. This
propensity builds the bargaining power of buyers higher.

Bargaining Power of Suppliers

Walton Group imports most of their raw materials and electronics parts from China where the
production cost is low and the differences among products are also low. This decreases the
bargaining power of suppliers. This prerequisite prompt purchaser provider connections between
the business and the organizations that give it the raw materials used to make items.

Number of Substitutes

A threat of substitutes exists when a WALTON item's interest is influenced by the value change
of a substitute item. Walton's most items are machines and now in Bangladesh there are some
measures of organization accessible to fulfill clients. Examples include LG, Butterfly, Marcell
etc. The general cost among Walton and different close contender isn't profoundly particular and
Brand exchanging cost for clients is lower.

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Together these four powers show us the current condition faces by Walton bunch. Albeit the
quantity of substitutes is higher Walton's items and services yet they are quality items. This is
conceivable in light of the fact that they are mastermind their imported products defended in a
country and gather them property.

Conclusion

An accounting information system is generally a computer-based method. Collection of

information, preparing and storage accounting, monetary and non-monetary reports, accounting
information system primary benefits is cost-effective of Walton, arrangements information, and
securely inputted information. Expanding the information collection and handling speed
information high in PC based strategy. Walton Company looks after use, income, and change
cycle for acquiring worldwide piece of the overall industry, accomplishes customer loyalty, great
situation for the local market and home country.

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References

Hossain, M., 2019. Marketing Strategies of Walton High-Tech Limited.

Powell, T.C., 1995. Total quality management as competitive advantage: a review and empirical study.
Strategic management journal, 16(1), pp.15-37.

Susan scherreik, “your performance review: make it perform, "business

week, December 12,2001, pp.139-40.
Grande, E.U., Estébanez, R.P. and Colomina, C.M., 2011. The impact of Accounting Information Systems
(AIS) on performance measures: empirical evidence in Spanish SMEs. The international journal of digital
accounting research, 11(1), pp.25-43.

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