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Finance and Funding in the Travel and Tourism Sector

   

Added on  2020-10-22

16 Pages3080 Words212 Views
Finance and Funding in the Travel andTourism Sector
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................13.1 Interpretation of financial accounts to assist decision-making.........................................1.........................................................................................................................................................32.1 Different kind of management accounting information which used in tourism sector....72.2 Use of management accounting information as a decision making tool..........................8TASK 2............................................................................................................................................91.1 Significance of cost and volume in travel and tourism sector..........................................91.2 Analyse of pricing methods used in travel and tourism sector.......................................101.3 Factors influencing profit in travel and tourism businesses...........................................11CONCLSION ................................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................13
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INTRODUCTION Financial Management is process of planning,executing and controlling financialoperations. With passage of time tourism has emerged as popular leisure activity and a major asource of income for many nations supporting their economy by contributing in GDP,generating employment opportunities, earning foreign exchange reserves etc. The report is basedon case study of Thomas Cook Airlines (Evans, Stonehouse and Campbell, 2012). The projectwill discuss about various types of costs that is incurred by hotel along with various factors thatare essential to analyse to understand tourism sectors. Further a detailed ratio analysis of firmwill be provided along with results and interpretation. The report will also provide sources anddistribution of funds for public and private tourism development.TASK 13.1 Interpretation of financial accounts to assist decision-makingThomas Cook is a British airline established in 2003 with its base in Manchester,England. The firm belongs to travel and tourism sector and is a airline division of Thomas CookGroup which is having three sister airlines. Firm is known to provide leisure destinationsworldwide. Company is having fleet around 90 aircraft and operates approx 20 sources marketsin Europe. Year by year firms revenues increased from 15.33% from 7.81bn to 9.01bn while netincome improved 225.00% from 4.00m to 13.00m. This shows good financial position of thefirm. Mentioned below is the financial statement of Thomas Cook that provides company'sincome statement, cash flow statement and balance sheet for the year 2016-2017: 1
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