Why High Data Quality in Revenue Accounting is Important!

Revenue is at the heart of an airline’s business performance. It is the value of all sales of flight- and non-flight related services recognized by an airline in a defined period. It is also a key metric for an airline that enables it to gauge its performance and financial health. The airline’s Revenue Accounting plays an important role when it comes in by specifying how and when revenue should be recognized and put into the financial statement of an airline. High data quality is the prerequisite to record revenue accounting data correctly, as this is the key to ensuring accuracy in financial reporting. Lufthansa Systems therefore asked Goolnaz Debara, Senior Product Owner for SIRAX/Revenue Accounting, how airlines can achieve high data quality in Revenue Accounting.