Finance and Funding In travel & Toursim

FFTT- and only first 3 tasks I need (task 4 was accepted).

Finance and Funding in Travel and Tourism Sector
TASK 2

Management accounting systems are highly significant
that provide manager with suitable inputs for decision
making. Main MA tools that Dalata Hotel group Plc
can undertake are as follows:
Financial statements
 Income statement
 Cash flow statement
 Balance sheet
2.1 Explaining different types of management accounting
system that can be used by Dalata Hotel Group Plc

 Variance analysis
 Budget
 Management Information System (MIS)
CONTD…

Management team of Dalata hotel group Plc can take competent
decisions using management accounting information in the
following manner:
Financial statements: ratio analysis
 Enables to compare performance with the trends
 Helps in assessing financial performance from different criteria’s
 Facilitates monetary performance evaluation over the years and
over competitors
 Offers opportunity in relation to identifying reasons behind
performance deterioration
 Assists in developing suitable policies and strategies for the
upcoming time period
2.2 Assessing the use of management accounting information
as a decision making tool

Budget
 Better forecasting
 Helps in taking decision regarding raising
capital etc.
CONTD…

Variance analysis
 Provides assistance in identifying deficiencies
 Specify reasons behind loopholes
 Gives clear indication about the need of taking strategic
measures
CONTD…

Fullerton, R. R., Kennedy, F. A. and Widener, S. K.,
2014. Lean manufacturing and firm performance: The
incremental contribution of lean management
accounting practices. Journal of Operations
Management. 32(7). pp.414-428.
Kaplan, R. S. and Atkinson, A. A., 2015. Advanced
management accounting. PHI Learning.
Malmi, T., 2016. Managerialist studies in management
accounting: 1990–2014. Management Accounting
Research. 31. pp.31-44.
REFERENCES