Travel and Tourism Sector Finance and Funding

Added on - 22 Jul 2020

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Finance and Funding in theTravel and Tourism Sector
INTRODUCTIONIn the modern scenario, it is highly essential to manage all the resources especially in financesector. There are various kinds of barriers which are being faced by company if they do not dealwith the monetary resources in an effective manner. So, it is important to have the best serviceswhich can be given to customers (Buhalis and Darcy, 2011). Since few decades, travel andtourism sector is growing at a rapid pace and thus, high contribution is also given by it intoeconomic and social factors. In this report, company chosen is Carnival Corporation and Plc. aswell as Dalata Hotel Group. Both the companies mainly deal in travel and tourism sector. Thereare number of elements which will be discussed in this report like identification of variouspricing strategies which have direct impact on the profitability of company along with themanagement accounting methods for making up of decision which will be discussed within thereport.TASK 11.1 Significance of cost and volume in travel and tourism sectorIn travel and tourism sector, various kind of factors and other elements plays up the majorrole . Business is being run by Carnival Corporation and Plc within many countries and thus nowthey have the cruise brand in which they have to run their business and travel company. Beneathis the explanation of several profits and costs:Indirect cost:These type of cost are not attached to generating the revenues and otheractivities. These are essential for this kind of expenditure as they are not similar in nature andthus, finer services can be given to the customers.Direct cost:There are various cost which mainly occur while production of goods andservices. It is very important to bring off this kind of price in order to have better profit ratios.Buying of plane tickets for travelling from one place to another can be explicit as an example ofdirect expending.Variable cost:Undulationis being seen each and every year. They are highly cranky inmanner as they fluctuate at a high speed (Choi and Turk, 2011). Suitable model can be taken ofearnings which are cashed to staff members in Carnival Corporation and Plc which can bedeclared as an instance of expenses.1
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