Significance of Accounting in Hospitality Sector: Hilton Research

This research proposal aims to ascertain the significance of accounting in assessing the financial performance of companies within the hospitality sector, using Hilton Hotels as a case study. The study will employ descriptive research methods, including questionnaires, to gather primary data from ...Read More

Name : ________________________________________________
____________________________________________
Proposed Research Title:
Significance of accounting in hospitality
sector_______________________________________________________________________
____________________________________________________________________________
___________________________________________________________________
Proposed research title:
To ascertain the significance of accounting in assessing financial performance of the
company in the context of hospitality sector: A study on Hilton in hospitality sector.
Client Organization (if applicable)
Hilton Hotels
Research Background
Descriptive research will be used to carry out characteristics of population in the
best possible manner. Moreover, it will be helpful in gaining useful insight about
research topic
Research will be conducted in order to attain useful insight regarding accounting
used in company and helpful in analyzing financial performance. The investigation will
be made in order to carry out credibility and effectiveness of accounting in the business.
The research design and methodologies will be used by which adequate results may be
achieved and constructive conclusion may be attained. The research will be conducted
in order to assess significance of accounting practices in Hilton Hotels engaged in
hospitality sector. Organization is garnering profits and has a wide customer base which
has been fruitful for attaining good quantum of profits. Real problem is that lack of
proper theoretical overview and difficulty in formulating and testing hypothesis which
will be resolved by present research so as to provide useful insight to company by which
it may effectively maintain accounting records. The structure of research proposal is
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divided into various sections such as research problems and objectives, literature review
and research design and methodologies that would be used in conducting research quite
appropriately.
Research Problem / Research Question
The research problem needs to be analyzed so as to carry out solution for the
same which may be a constraint to overall research and as such, it is required to
carefully evaluate to overcome the same. Hilton Hotels which is a giant engaged in
hospitality sector performs better to carry out activities and has good financial
performance. Accounting is an integral part of company by which it may be able to
concentrate on activities and records can be maintained in a better way. Problems faced
in accounting are no relevant theory has been identified now and then and as such, no
hypothesis is formed for carrying out or formulation of new theory in accounting
research. Failure of improvement of accounting activities has been the main problem
and no evidence is created for constructive research.
Research questions
On the basis of research aim and objectives following objectives have been drafted.
Hence, investigation will be focused on addressing the following questions:
Q.1 What is the significance of accounting in hospitality sector?
Q.2 Does accounting help Hilton in financial performance assessment and improvement?
Research Aim and Objectives
Aim:
“To ascertain the significance of accounting in assessing financial performance of
company in the context of hospitality sector: A study on Hilton Hotels”
Objectives:
 To assess importance of accounting in hospitality industry
 To evaluate significance of accounting in enhancing financial performance
 To assess usefulness in keeping records of business activities
Keywords for Literature Review
Budget can be planned in accordance to the accounting information maintained
and financial statements are prepared quite effectually.
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Historical costs are taken into account without giving future consideration to the
operations of organisation.
According to Hall and Millo (2018), accounting is quite significant in assessing financial
performance in effective way. Clarity and transparency is achieved regarding business operations
and proper bookkeeping helps to attain clarity in effective manner. Budget can be planned in
accordance to the accounting information maintained and financial statements are prepared quite
effectually. Financials of company such as cash flow statement, balance sheet, income statement
and statement of changes in equity are produced and these financial statements are prepared by
taking information from the accounting records maintained in the best possible way. It is helpful
for decision-making purpose mainly where financial statements provide information which
highlights failure of organisation and as a result, it helps management to take better decisions for
improving financial performance of firm.
In contrast to this, Koens and Wood (2017) says that accounting lacks certain elements
which are required. Historical costs are taken into account without giving future consideration to
the operations of organisation. The data is based on previous year and as a result, doesn't serve
for future course of action. Moreover, major limitation is that it takes only monetary value into
consideration without taking non-monetary information which is essentially needed but ignored
by accounting. Window dressing and manipulations both have adverse effect on the company's
financials and this leads to false representation of financial health which misleads stakeholders up
too much extent.
As per the views of Ngugi, Gakure, and Gekara (2017), accounting is significant in
assessing financial performance as through this, organisation's true financial perception
can be assessed in a better way. Furthermore, it will be fruitful in managing and
effectively monitoring cash flows. It provides clear reference or cause and effect
regarding the profits reported in a particular financial year. It helps to seek and maintain
records in effective manner and whether organisation is making profit on business
transactions or not. Hence, it is quite significant for company to assess financial
performance.
Publication details of relevant articles for literature review
Hall, M. and Millo, Y., 2018. Choosing an Accounting Method to Explain Public Policy: Social
Return on Investment and UK Non-profit Sector Policy. European Accounting
Review. 27(2) pp.339-361.
Koens, A. and Wood, R. C., 2017. An analysis of international employment levels in hospitality
occupations using secondary statistics. International Journal of Tourism Research. 19(5).
pp.496-504.
Ngugi, S.K., Gakure, R. W. and Gekara, G. M., 2017. Influence of policies on accounts
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receivables management in the hotel industry in Kenya. American Journal of
Accounting. 1(1). pp.93-115.
Millward-Hopkins, J., Gouldson, A., Scott, K., Barrett, J. and Sudmant, A., 2017. Uncovering
blind spots in urban carbon management: the role of consumption-based carbon accounting
in Bristol, UK. Regional Environmental Change.17(5). pp.1467-1478.
Data Collection Plan
Primary data will be used to by issuing questionnaires to respondents and ask
them to duly fill the same and return within stipulated time.
The research design is an important aspect of any research. There are various types of
research such as exploratory, descriptive and casual. Descriptive research will be used to carry
out characteristics of population in the best possible manner. Moreover, it will be helpful in
gaining useful insight about research topic. Research approach named as qualitative approach
will be implemented which would possess answers to problems. On the other hand, primary data
will be used to by issuing questionnaires to respondents and ask them to duly fill the same and
return within stipulated time. The primary data will be collected by effectively issuing
questionnaire to the respondents so as to gain perspectives in effectual way (Millward-Hopkins,
Gouldson, Scott, Barrett and Sudmant, 2017). Hence, proper research design and discussed
methods would be followed to attain research outcome with ease.
The sampling is required because it is not economical way of getting responses from
entire population and is a tedious task as well. In relation to this, simple random
sampling method will be used and 30 respondents will be taken as a sample which will
be representative of total population. Respondents would be employees' of Hilton
Hotels. On the other hand, thematic analysis will be utilised so as to derive responses in
the best possible manner. The ethical considerations are being taken such as
questionnaires will be provided with prior consent of respondents. Furthermore, they
will be asked to skip any of questions which they find difficult to answer.
Ethical Consideration
The ethical considerations are being taken such as questionnaires will be
provided with prior consent of respondents. Furthermore, they will be asked to skip any
of questions which they find difficult to answer. Considering the ethical rules and
regulation on which the research projects must consist of all authentic and relevant data
or information which will be adequate in bringing the legal look to report. During this
study researchers have cited the authentic sources from information had been obtained.
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