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Finance & Funding in Travel and Tourism : Assignment

   

Added on  2020-07-22

14 Pages2898 Words30 Views
FINANCE & FUNDINGIN TRAVEL ANDTOURISM
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................11.1 Evaluating the importance of costs and volume in financial management of travel andtourism businesses by using Carnival corporation plc...........................................................11.2 Explain pricing methods used by Carnival corporation plc in the travel and tourism sector................................................................................................................................................21.3 Explain factors determinant profit for travel and tourism businesses..............................3TASK 2 ..........................................................................................................................................52.1 and 2.2 covered in PPT.....................................................................................................5TASK3.............................................................................................................................................63.1 Interpreted travel and tourism financial accounts ...........................................................6............................................................................................................................................7TASK4...........................................................................................................................................104.1 Covert in leaflet .............................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONFinance and funding in travel tourism sector are motivate to people for gain informationand knowledge related to financial aspects and condition of economy as well as companyfinancial performance. Through this firm has make investment plan related develop andexpansion of business activities. In this report Carnival Corporation & plc are use, its a US basedcruise company and they has world largest travel leisure with over 100 vessels across 10 cruiseline brand. Carnival Corporation & plc has effectively use strategies for analysis cost and volumein financial management. Dalata Hotel group plc has Ireland based firm and they has largesthotel operator with 38 three and four star hotels. They run their business operation across Irelandand the UK. This report cover importance of cost and volume management in the field oftravelling sector (John and Susan, 2015). Analysis pricing method with several options andinfluencing profit for travel and tourism businesses. Analysis distribution method of funds inpublic and private sector tourism development. TASK11.1 Evaluating the importance of costs and volume in financial management of travel andtourism businesses by using Carnival corporation plcCompany has produce product and services for satisfy consumer needs and wants for thisthey have spend lot of money. Term cost are explain as sun total of several expenditure incurredin running businesses activities. Businesses wants to maintain their cost and expenditure so thatthey has effectively operating business activities. Cost has mostly two types one is fixed andsecond is variable which incurred for implementation of business activities. Some other types ofcost are direct cost, indirect cost, allocation cost and other overheads. Carnival corporation plchas provide services to their clients and accrue expenditure or cost for providing these services.Firm has use several types of tools and techniques for operating their businesses and takeeffective decision regarding company activities. Some important techniques for analysisbusinesses financial activities are break even point, economic of scale and cost volume analysis.Carnival corporation plc has use cost volume profit analysis, through this they have analysis costof the running businesses and investigating actual profits drown form all services provided totheir customers (Koutra and Edwards, 2012). This technique are help Carnival corporation plc1
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