Finance and Funding in the Travel and Tourism Sector
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Added on 2023/02/10
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AI Summary
This project module provides relevant information about finance and funding in the travel and tourism sector. It discusses the use of management accounting information, financial statements, and various analysis techniques. The focus is on Dalata Hotel Group plc and its performance in providing accommodation facilities.
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Finance and Funding in the Travel and Tourism Sector Introduction In travel and tourism sector Dalata hotel group plc is performingmoreeffectivelyinprovidingbest accommodation facilities to their customers. They used to perform in various segments such as Centre ofattractions,LEGOLANDpartsandvarious resorts.Dalatahasunrivalledexperiencesin hospitality sectors which has been proven effective trackrecordofconsistentlymakingimproving performance and upper team with extensive hotel experience sectors. Management accounting information (MAI) Dalata Hotel group company is incorporate for the motive of increasing overall productivity of the company. Management demand various information which set for better decision making. Management accounting information is said to be effective tool that assist an organisation to summaries all data which will be helpful for making future decision. (MAI): It is known as of the common computer based accounting method which will be used for the purpose of tracking accounting events in respects with data technology resources. The outcomes those are gather from financial reports can be used as internal department or by outside parties that consists of investors, creditors and other tax authorizes. Types of management accounting information In accordance with the better utilisation of resources which are use by Dalata Hotel Group plc in operating their financial transactions are mentioned in more reliable manner. All above discussed management accounting information are more crucial statements which will be used as primary decision making tools for every business organisation. The business used to consider every management accounting data in more reliable manner in respect to get more sufficient amount of capital in near future period of time. All the important aspects related with the MAI can assist Dalata group plc in making appropriate decision and gather maximum benefits of using them in coming period of time. Some of them are: Makingvaluablecomparisonamongpresent trendsthoseareassociatedwithtraveland tourism point of views. To develop all sorts of investment decisions that are beneficial in coming period of time. It would assist an organisation to raise funds for thepurposeofincreaseoverallgrowthand financial stability in coming period of time. To future forecast in another crucial motive of using this management accounting information by the company. Formulationofbudgetandplanningfor increasingfutureaimsandobjectivesforan organisationaretakenintoaccountinmore effective ways. Use of management accounting information Managers and other business owners can use a wide range of data to assist Dalata plc to operate their business on regular basis but to attain various form of business plan that are needed to make sound business decisions. There are different information tools and techniques which can be used by Dalata company plc. These assist the travel and tourism sectors in increasing the overall performance and effective decision making activities. Some of them are discussed underneath: •Ratio analysis: It is more systematic aspects of ratio to assess the overall performance position of the company. It is globally used techniques of financial evaluation. It is used to determine the relationship among two variables. •Financial statements: These are said to be one of the primary statements of the company which are needed of users in order to analyse the current position of Dalata Hotel Plc. It consists those are presented individually or within other public documents. Like financial report of the company. •MIS: It is one of the system that used to guide the information to manage them in proper manner. According to this framework which consists of guidelines, rules and regulation for an organisation. It is define as one of the reliable system that are recorded into the database of an organisation which involves in delivery better information to an organisation. Conclusion This particular project module is providing more relevant information about finance and funding in travel and tourism sector. Various analysis is being made about the two important companies mentioned in the above project report. By the help of financial statements, current position of Dalata hotel can be determine by using ratio analysis.