logo

Finance and Funding in the Travel Tourism Sector

   

Added on  2020-10-23

16 Pages4006 Words340 Views
Finance and Funding in theTravel Tourism Sector
Finance and Funding in the Travel Tourism Sector_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1: Significance of cost and volume in financial management of travel and tourism..........11.2: Evaluate different pricing methods used in travel and tourism sector............................31.3: Factors influencing profit for travel and tourism businesses..........................................3TASK 2............................................................................................................................................52.1: Different types of management accounting information.................................................52.2: Utilisation of management accounting tool as a decision-making tool...........................6TASK 3............................................................................................................................................73.1: Interpretation of financial account..................................................................................7TASK 4..........................................................................................................................................114.1: Covered in Leaflet.........................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
Finance and Funding in the Travel Tourism Sector_2
Finance and Funding in the Travel Tourism Sector_3
INTRODUCTIONFinance is an essential need of every organization which supports them in operatingbusiness operations without any interruptions. There are different sources from which anorganization can raise funds and maintain their financial stability for longer period of time. It isrequired in every sector of business whether manufacturing, retail, tourism etc. as everyorganization need to have sufficient amount of capital in order to operate business moresuccessfully. The present assignment report is based on Carnival Corporation & Plc. and DalataGroup Plc. Both such organization are engaged in travel and tourism sector offering qualitytourism services at an affordable prices. The present report is divided into different partsincluding importance of profits, volume and costs in making an effective decisions for thegrowth of tourism business. The project also covers the various sources and distribution offunding for development of project (Becker, 2016).TASK 11.1: Significance of cost and volume in financial management of travel and tourismFinancial management: It is the process of planning, organizing, directing and utilizingthe available financial resources in order to get maximum return in near future. There are variouscost and expenditures which are required to be incurred in order to formulate an effective tourpackages by tourism companies for their targeted customers. As Carnival corporation & Plcengaged in tourism sector need to first estimate costs, volume and profit margin so as to designand make a suitable strategies in order to achieve competitive advantages and achieve highsustainability as well.Cost: It is such factor which assist an organization to set up the prices of tour packagesafter considering all cost that will be incurred in offering tourist services to the targetedcustomers. For this, it is important for the management of Carnival corporation & Plc to manageand control cost through proper allocation which increases their profit margin as well. There aredifferent types of cost which are utilize by Carnival corporation & Plc are given as below:Direct cost: It involves cost or expenditure which are directly invested in providingtourism services to the targeted customers (Buhalis and Darcy, 2011). It includes cost incurred inbusiness packages that are offered to the customers such as hotel, food, spa etc. 1
Finance and Funding in the Travel Tourism Sector_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Finance and Funding in Travel and Tourism Sector
|14
|3265
|65

Finance & Funding in the Travel and Tourism Sector Assignment - Carnival Co & Dalata Hotel
|15
|4338
|343

Finance and Funding in the Travel and Tourism Sector
|17
|4459
|96

Finance &Funding in Travel Tourism Assignment
|21
|3052
|74

Finance and Funding in Travel Tourism Sector Assignment
|13
|3127
|79

Finance and Funding in Travel and Tourism Sector Assignment - carnival corporation
|20
|4900
|404