Finance and funding in travel and tourism: A Case Study

This report delves into the critical aspects of finance and funding within the travel and tourism sector, focusing on the application of management accounting principles for effective decision-making. The analysis covers the importance of centralized information, relevant data, and variance ...Read More

Task
Finance and funding
in travel and
Tourism

Introduction
• In business finance will be required to carry out t
he operations in the most effective manner and fo
r that evaluation of various sources will be done
with the help of management accounting informat
ion.

Objectives
• The objective of this is collection of information
by the use of various techniques and then using i
t for making decisions.

Management accounting information
• This will be used as by it all of following will be
made possible:
• All information will be centralized.
• Relevant information will be provided.
• Analysis will be made possible
• Revenue can be forecasted

Types of management accounting
information
• The different types of information that will be col
lected are:
• Variance analysis
• Financial statements
• Budgets
• Forecasts

Continue…

Use of MIS in decision-making
• Merlin entertainment will be needed to get few cr
ucial decisions for which data will be required that
would be known as management accounting infor
mation.

Continue…
• Many decisions can be taken by the use of them and they are:
• Decision about investments
• capital raising
• controlling expenditures
• Analysis of trend
• measurement of performance
• Reduction of price

Conclusion
• It is concluded that Merlin entertainment can atta
in its objectives so that better decisions can be ta
ken by implementing management accounting in
formation tools.

Papatheodorou, A., Rosselló, J. and Xiao, H., 2010.
Global economic crisis and tourism:
Consequences and perspectives. Journal of
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Henderson, J.C., 2010. Sharia-compliant hotels.
Tourism and Hospitality Research.10(3). pp.246-
254.
Pike, S., 2012. Destination marketing. Routledge.
References

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