Management Accounting: Information and Decision Making Tool in Travel and Tourism

This assignment explores the role of management accounting information as a vital decision-making tool within the travel and tourism sector. It delves into the various types of management accounting information, including financial statements, cash flow forecasting, and profitability ratios. The document highlights how these tools empower managers to make informed decisions, forecast risks, and achieve company objectives. Examples of how management accounting information is used in practice are provided, demonstrating its practical application in the travel and tourism industry.

Training Package
Management accounting
information and decision
making tool
Dalata Hotel Group Plc
4th Floor, Burton Court, Burton Hall
Drive, Sandyford, Dublin 18,
Ireland Street
E-mail address:
[e-mail]
DALATA
HOTEL
“Delivering our promise”
TRAINING EVENT FOR
NON- FINANCIAL
MANAGERS OF THE
COMPANY
PHONE: [phone]

References:
 Kerzner, H. and Kerzner, H.R.,
2017. Project management: a systems
approach to planning, scheduling, and
controlling. John Wiley & Sons.
 Collier, P.M., 2015. Accounting for
managers: Interpreting accounting
information for decision making. John
Wiley & Sons.
Introduction:
The management accounts information is a tool
which can be used in travel and tourism which
helps in decision making through various
techniques like cash flow forecasting, variance
and regression analysis, financing and the
budgets etc. The management accounting
information in travel and tourism used to
forecast the risk and other factors related to the
business of company
Types of management accounting
information includes
It includes all the making of financial
statements which includes the balance sheet,
profit and loss account and all the final
accounts.
Cash flow forecasting, it also helps in
forecasting the profitability ratios which helps
in meeting the company objectives and the
plans.
Conclusion
This assignment describes the scope
and the types of the management
information system in the travel and
tourism sector. The type of
management report that includes in
business includes the budgets, variance
and cash flow forecasting and etc.
These all the information used to guide
and advice the managers in the
business plan and activity.
Decision making tool
It acts a decision making tool for the
managers or owners of the travel and tourism
business. The managers used to take
information from the statistical and financial
reporting statements which are necessary for
the planning and organizing.
The tools like cash flow analysis, sales
reports, budgets and other plans used to
forecast the results in advance.