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Finance and Funding in Travel and Tourism TABLE OF CONTENTS INTRODUCTION 1 TASK 11

   

Added on  2020-06-03

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Finance and Funding inTravel and Tourism
Finance and Funding in Travel and Tourism TABLE OF CONTENTS INTRODUCTION 1 TASK 11_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Financial management and the importance of cost, volume in travel and tourism..........11.2 Type of business and pricing methods for Organisation..................................................31.3 Factors affecting profit gathering for Merlin Entertainments plc....................................4TASK 2............................................................................................................................................52.1 Various management accounting informations used for Merlin Entertainments.............5TASK 3............................................................................................................................................53.1 Analysing the financial statement and organisational positions of TRG for year 2017...5TASK 4............................................................................................................................................74.1 Distribution of the funds and available sources for capital projects................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Finance and Funding in Travel and Tourism TABLE OF CONTENTS INTRODUCTION 1 TASK 11_2
INTRODUCTIONTravel and Tourism industries are the main revenue generator of any nation. Hence, therewill be requirement of large numbers of funding in context with having adequate operationalactivities. In the present report, there will be discussion based on considering the requirement ofcapital revenue for Merlin Entertainments plc. However, it will also highlight the requirement offunds for operating the travel and tourism firms. Thus, there will be analysis of various ratios andevaluating methods to lower down the cost. Hence, the professionals in TRG will be able tomake corrective forecasting decisions as per the profitability and liquidity of the firm. On theother side, in this study there will discussion based on various cost techniques such asforecasting, budgeting as well as pricing techniques which will help such organisation in havingadequate amount of funds as well as attracting numbers of investors for capital gathering.TASK 11.1 Financial management and the importance of cost, volume in travel and tourismBy considering the growth of Merlin Entertainment as well as it operational functioningin the long run which indicates that the firm has good market strength and have large numbers ofconsumers (Robinson and et.al., 2016). It operates in more than 23 nations and has facilitated thetouring at more than 115 locations in the world. Hence, the business normally deals making toursat various attractions such as LEGOLAND parks, Midway attractions, Rides and shows etc.which are the main requirements of the tourists as well as it attracts travellers from all categoriessuch as kids, family, adults as well as senior citizens.1
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Illustration 1: Costs used in managerial decision makingSource: (Said, 2016)Direct cost: Such an expense which are initially required to fulfil the tasks or attainingthe operations of the organisation such as labour, resources etc. hence, In Merlin Entertainmentsthere will be require of skilled and talented employees such as drivers, guides, managers as wellas other supporting employees which will execute the all the tours and have direct interactionwith consumers (Roy, 2016). Thus, in context with hiring the adequate number of workforce2
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