Finance and Funding in the Travel and Tourism Sector

Finance and funding in travel
and tourism sector
(TASK 2)

CONTENT
 Introduction
 Different kind of management accounting information which
used in tourism sector
 Utilisation of management accounting information as a decision
making tool
 Conclusion
 References

INTRODUCTION
• Finance plays an imperative role for every business organisation in
order to operate daily working activities and functions. Proper
management of financial sources helps to make a business more
profitable and attaining its goals and objectives.
• It is essential for business units to determine various sources of
funding so to improve the quality of its products.
• This presentation will assist in improving effectiveness of Dalata
Hotel Group Plc.

Different kind of management accounting
information which used in tourism sector
Management accounting encompasses to assemble and rendering
financial information on time to business owners as they can take day
to day decisions in order to operate functions. Basically, management
accounting is different from financial accounting that generates
reports for internal and external stakeholders of the company.

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Below mentioned are the different types of management
accounting of Dalata Hotel Group plc :-
 Analysis of Financial Statements
 Standard Costing
 Budgetary Control
 Funds Flow Statement

Utilisation of management accounting
information as a decision-making tool
Management accounting information plays a crucial role in taking
necessary business decisons; basically it comes in form of budget
forecasts, financial ratio, costs accounting etc. Management
acconting intends to provide financial data which links with making
sound business decisons. It provides expertise in financial reporting
and control that is helpful for management in creating and executing
of the strategy of an organisation.

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Below is the assistance
provided by MIS:
• Investment decision
• Trend analysis
• Forecasting sales
• Financial projections

CONCLUSION
 It is necessary for managers of travelling to manage cost and
volume of finance using different techniques.
 They have to assure that all financial resources are managed in
proper manner so that working operation can be done in their time
schedule.
 At last, there are two types of sources of funds, i.e. internal and
external helps to make a project more attractive and impressive.

REFERENCES
Song, H. and Lin, S., 2011. Impacts of the financial and economic crisis on tourism
in Asia. Journal of Travel Research.49(1). pp.16-30.
Spenceley, A. ed., 2012. Responsible tourism: Critical issues for conservation and
development. Routledge.
Spencer, J. P. and Zembani, P., 2011. An analysis of a national strategic framework
to promote tourism, leisure, sport and recreation in South Africa: tourism,
leisure, sport and recreation. African Journal for Physical Health Education,
Recreation and Dance. 17(2). pp.201-218.