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Financial Management of Carnival Corporation and Plc : Assignment

   

Added on  2020-07-22

9 Pages2149 Words31 Views
FINANCE ANDFUNDING IN THETRAVEL AND TOURISMSECTOR
Financial Management of Carnival Corporation and Plc : Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Importance of cost and volume in financial management of Carnival Corporation and Plc......................................................................................................................................................11.2 Analysis of different pricing method which are implemented by travel and tourismbusiness.......................................................................................................................................11.3 Evaluation of factors influencing profits of travel and tourism business..............................1TASK 2............................................................................................................................................22.1 Types of management accounting information used by Dalata Hotel Group plc.................22.2 Explain different types of management accounting information that could be used asdecision making tools for Dalata Hotel Group plc .....................................................................2TASK 3............................................................................................................................................33.1 Interpret financial accounts of Dalata Hotel Group plc for the year ending on 31thDecember 2017...........................................................................................................................3TASK 4............................................................................................................................................44.1 Analyse sources and distribution of funding for the development of capital projectsassociated with tourism...............................................................................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Financial Management of Carnival Corporation and Plc : Assignment_2
INTRODUCTIONFinance and funding is a crucial part of travel and tourism business assist helps thecompany in managing cost effectiveness of business functions. The report will evaluateimportance of volume, cost and profit for management in decision making process of CarnivalCorporation and Plc. It is leading leisure travel company and own portfolio of cruise brands inAmerica, Europe and North America. Also, it will outline several types of managementaccounting business information which can be used by Dalata Hotel Group PLC, the hotelier isthe largest operator of Ireland and has four star hotels with 7700 rooms. Thus, the report willidentify sources and distribution of funding in tourism business.TASK 11.1 Importance of cost and volume in financial management of Carnival Corporation and Plc.Enclosed in PPT1.2 Analysis of different pricing method which are implemented by travel and tourism business.Enclosed in PPT1.3 Evaluation of factors influencing profits of travel and tourism business.There are numerous factors which impact business of travel and tourism companies forlong term and short terms. It is important for the organisation to control the impact of businessand business environment on services in order to serve traveller satisfaction. Factors whichinfluences profits of Carnival Corporation and Plc are as follows:Seasons: Seasonal changes plays a most prominent role in enhancing business functionaland impact travel services. It is common factor which disrupts profits margins of CarnivalPlc. For instance, if in case the company organises trip at the time of summer holidaythen the firm hold chances of getting positive customer response but n the other hand it isthe time when all the accommodation and transportation prices gets high due toincreasing demand (Spenceley, 2012). Therefore, in this case the firm is either unablemanage profits or owns very fewer chances of earnings.Changing government regulations: Changing legislation is the factor which impactstravel trips plans of business. The regulation are implemented to maintain security ofdomestic residents. However, the changes impacts the pricing and travel plans oftravellers which is directly proportionate to profits of Carnival plc.1
Financial Management of Carnival Corporation and Plc : Assignment_3

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