Career Research Report: Accounting in Travel and Tourism Industry

This career research report provides a comprehensive analysis of the accounting profession, with a specific focus on its application within the travel and tourism industry. The report begins with an executive summary and an introduction to the importance of career planning for recent graduates. It then delves into the general trends impacting the accounting field, such as automated accounting processes, outsourcing, cloud-based accounting, data analytics, and blockchain technology. The report also identifies the essential skills and knowledge required for accountants, including analytical abilities, IT proficiency, resilience, stability, international experience, and communication skills. The research methodology includes both primary and secondary research, with insights from industry professionals and job advertisements. The evaluation section assesses the student's career goals, research findings, and potential challenges. The report concludes by highlighting the importance of continuous skill development and adaptability in the dynamic field of accounting within the travel and tourism sector.

Career Research report

Executive summary
In this assignment, career planning and a compulsive research is conduct for
understanding about more in the chosen field. The proper planning is conducting to
evaluating the future concept for the students who are focusing on their career after
completing their graduation. This report summarise about the detail analysis about key trends
and skills which are required for the growth of an individual. Primary and secondary research
is conducted for the better understanding about the chosen profession.

Table of Contents
Executive summary....................................................................................................................2
Introduction................................................................................................................................4
Analysis and Application...........................................................................................................4
General trends which will impact on the chosen profession..................................................4
The skills and knowledge which are required........................................................................5
Evaluation..................................................................................................................................6
References..................................................................................................................................8
Appendix....................................................................................................................................9
Primary Research...................................................................................................................9
Job advertisement.................................................................................................................10

Introduction
The planning for career is one of the important tool for the graduate students who just
complete their graduation and now they are thinking for their future. This report consist a
deep analysis of the future which are ready for making career plan while conducting proper
research. This is related to the basic skills and knowledge and gaining about experience in the
chosen field of professions. In order to make career future plan it is important to plan their
professional line and the area of interest (Bahtiar, 2017). To complete this assignment I
choose my career as in the accountant profession as in the field of travel and tourism. And in
order to complete this report I conduct a primary and secondary research to know more about
the field of chosen sector such as their recent trends and skills which I have and more I
needed to acquire in myself.
Analysis and Application
General trends which will impact on the chosen profession
General trends are the ways and approaches which are more demanding by the
industry in order to complete their organisational basic need. These trends are helpful for the
student who are going to enter in this field. Accounting play an important role in the business
organisation and when it comes to travel and tourism industry, this profession is become
more demanding profession after marketing (11 Accounting Trends for 2021/2022: New
Forecasts & What Lies Beyond?, 2021). And after the impact of covid-19, the need of
accountants within organisation of travel and tourism are increased. Some are explained
below:
 Automated accounting processes: This is one of the important trend in the
accounting services. As it will increase the key trends within industry. Automation
will eliminate the confusion and minimize the risk and omission within accounting
errors. Most of the organisation are invested in the automated solution which are
actually helpful for their employees to work effectively and decline the risk of
companies.
 Outsourcing the accounting functions: Most of the firms are outsource the
accounting functions and reaping the benefits of outsourcing their accounting
professions. Outsourcing of the accounting function to different companies are help
them to focus on their limited resources that will increase the profitability within
organisation (Beins, 2017). This will increase the opportunities for the accounting

companies who are helping this services to many other companies like travel and
tourism industry.
 Cloud based accounting: This is become one of the popular place for accounting
services. This cloud based accounting system are able for the companies as they are
easily access the accounting system at anywhere and every time. Due to covid-19
most of the travel and tourism companies are closed and work from home. So this
system are helped their a lot. This will increase the workflow and saving businesses
and their valuable time.
 Focus on data analytics: As the new technologies are allow different accounting task
to become easier and this will shift the focus on accounting profession to data
analytics. Accountants has to follow the new roles within the organisation like advisor
and having the unique skills set that actually revolve around the analysing data. It
will help the travel and tourism industry in order to identifying the process of
improvement and increase improvement and manage risk which is better.
 Block chain: the need of accounting industry are understand more about block chain
technology and used that for the good reason. This technology help the accounting
procedure in order to lowering the cost structure and maintain the ledger accounts for
the accounting prospective (Galaz-Fontes and et.al., 2016). It will further help the
travel and tourism industry to maintain the ownership and history of assets in a
symbolised manner.
The skills and knowledge which are required
Skills and knowledge which are required to make profession more strong base and
provide limited source in the travel and tourism industry. Accountancy is the profession
which is not adopted by every field employees. To it is required some important and
significant skills and knowledge (10 Key skills you need to become a good Accountant,
2021). The increasing career opportunities with some major skills and knowledge which are
explained:
 Analytical: One of the important skills which are based trends is analytical approach,
means they must be able to compare, interpret figures and different data. This will
help the reduce work culture and helping employee to trust the organisation and
maintain their customer for longer period. They should be able to find accuracy,
analysis, detailed information, compliance and having mathematical knowledge.

 Information technology: accounting skills jobs are often require varieties of
knowledge which are essential for the growth of the tourism industry. An employee
must have the knowledge which are related to the computer, Microsoft Office, MS
Access, Excel and IT software knowledge.
 Resilience: This skills is important as it provide willingness to put something graft
which is recommended by most of the organisation. It is important skill for the new
joiners’ as to work in the tough time or deadline is the best way to understand the
concept of industry work. Understand different clients and deal with them in order to
maintain the challenges is the skill that will help an individual to work in good stead
throughout the career opportunities (Maree, 2018).
 Stability: This is the skill which is not as relevant for the society but helpful for the
company and an employee to embark the career journey. So one of the benefit is to
appeal different accounting career with flexibility approaches. This is important to
deal with the solid bound in the initial level of the career.
 International work experience: This is important as if you have the skill to work out
of the country become more significant approach in your CV. Most of the
organisation related to travel industry are trying to expand their business in
international level so they need some employee who perform effectively in
international borders (Sloan, 2016).
 Communication: Communication is one of the vital part of organisation, as it
important for the growth of organisation. This will need to convey complex
information in the most straightforward way. Which are actually helpful for the
employees as it is important to convey the massage effectively related to accountant.
This skills comes with the experience in this particular field.
Evaluation
Accounting is one of the important aim and interest of my professional life, so I try to
make my career opportunities in accounting line. In order to complete my aim and objectives
of career planning it is important to consider and work in such repudiate company which
create a brand image and enhance my opportunities for future (van der Horst and Klehe,
2019). In order to complete my job research in the market it is essential to do a primary and
secondary research. Secondary research are complete with most of the online videos and site
and books which provide me relevant information about the job openings. Further I conduct a
primary research within an organisation where I ask different kind of question which are

related to my queries. Then I search different career objective profile from different
organisation and found one suitable job opening which suits my skills and knowledge. This is
job in travel industry which are situated in London. They applied the job advertisement on
their company’s site. Their main criteria is they wanted a young and energetic, efficient and
enthusiastic accountant who are excited for the travel business. The duties which are cover
are driving annual budget, support the continuing development cash flow management,
improve the situations and make sustainable plan. Furthermore evaluate P&L account and
improve the performance. Using KPI analyses the data and strategies the team work. The
salary they are providing is approximately 55 euros per annum plus incentives. Some of the
skills which are demanded by company are increase my opportunities to getting this post. The
hurdle which are comes in my path is the experience they needed. But I try to impress them
in such a way that they accept my CV and recruit me on a vacant post of accountant in their
organisation. Furthermore the salary they providing is not as sufficient but it will increase my
experience and upgrade my CV in the post. I have good accounting skill and knowledge
which are helping my career opportunities and justify the need of company. All these things
help myself to enhance my career opportunities and upgrade my skills in order to opening
different path for my future aspect.

References
Books and Journals
Bahtiar, M., 2017. The influence of locus of control, self-efficacy, and accounting
achievement learning on accounting career maturity of the twelfth grade students of the
accounting program in private vocational high schools. International Journal of
Education, 10(1), pp.53-59.
Beins, B.C., 2017. Research method: A tool for life. Cambridge University Press.
Galaz-Fontes, J.F and et.al., 2016. Demographics, career and academic self-understanding: A
comparative view. In Biographies and Careers throughout Academic Life (pp. 317-340).
Springer, Cham.
Maree, J.G., 2018. Promoting career development in the early years of a person’s life through
self-and career construction counselling (using an integrated, qualitative+ quantitative
approach): a case study. Early Child Development and Care, 188(4), pp.437-451.
Sloan, J., 2016. ‘Early Career Architects’ and the Act of Detailed Design in Architectural
Practice: Establishing an Effective Research Design.
van der Horst, A.C. and Klehe, U.C., 2019. Enhancing career adaptive responses among
experienced employees: A mid-career intervention. Journal of Vocational Behavior, 111,
pp.91-106.
Online
10 Key skills you need to become a good Accountant, 2021. [Online]. Available through:
https://www.brightnetwork.co.uk/career-path-guides/accounting-audit-tax/10-key-
skills-you-need-become-good-accountant/.
11 Accounting Trends for 2021/2022: New Forecasts & What Lies Beyond?, 2021. [Online].
Available through: < https://financesonline.com/accounting-trends/>.
Indeed, accountant job, 2021. [Online]. Available through: < https://uk.indeed.com/jobs?
q=Travel%20Industry%20Accountant&vjk=7a727ccde4e87335>.

Appendix
Primary Research
Name of the person: Miss. glary
Company: Gap talent
Job title: Head of finance
Date of Contact: 20th February 2021
Mode of Contact: Calling
Question asked
 Explain the trends which are necessary for the companies to growth?
 What are the changes needed in the travel and industry which are expected for the
growth of companies?
 What are the skills and knowledge a company is required for the post of accountant in
their firm?
 Is there any way of opportunities for the growth of an employee in this field?
Summary of response
Miss. Glary said that there are verities of changing trends and changes are needed within the
travel and tourism industry due to the pandemic impact of covid-19. The basic knowledge
and skills which are required to having the opportunity and work within the organisation at
the post of accountant is they have to accurate knowledge about accounts and basic software
that are usable by the organisations. Due to the covod-19 impact the growth and opportunities
are stuck in travel and tourism industry. But after some time the growth of this industry will
be high as before.

Job advertisement
Figure 1 Indeed, accountant Job, 2021.