Analyzing Finance and Funding for Growth in Travel and Tourism

This report examines finance and funding within the travel and tourism sector, highlighting the importance of effective resource management and the utilization of management accounting information. It discusses various management accounting tools such as budgets, financial statements, variance analysis, and management information systems, emphasizing their role in long-term and short-term planning, optimizing capital structure, and forecasting market conditions. The report further elaborates on the role of management accounting in decision-making processes, including strategic planning, resource allocation, and competitive analysis, ultimately concluding that sound financial management is crucial for the growth and development of organizations in the travel and tourism industry. Desklib provides access to this and other solved assignments to aid students in their studies.

Finance and Funding in the
Travel and Tourism
Sector
TASK 2

Table of Content
 Introduction
 Different kind of management accounting information which used in
tourism sector
 Utilization of management accounting information as a decision-making
tool
 Conclusion
 References

Finance and Funding

Introduction
In the modern scenario, it is highly essential to manage all the resources
especially in finance sector. There are various kinds of barriers which are
being faced by company if they do not deal with the monetary resources in an
effective manner. So, it is important to have the best services which can be
given to customers

Travel and Tourism

Management Accounting
Concept of management accounting can be stated as determination of
appraisal of business cost along with the operations which can provide help
in administrating the financial terms for implementation of accounting
report. Owner of Dalata Hotel group Plc mainly follows the number of
management accounting system which helps in attaining aims and objectives
within the described manner:

Different kind of management accounting
information which used in tourism sector
Below are some of the information of management accounting which can be
used by mentioned organisation for improving their performance:
 Budgets
 Financial statements
 Variance analysis
 Management information system

Management Information System

Management accounting information
There are number of purposes due to which every kind of company follows
management accounting. Help is being provided for the mentioned company
for production of goods and services along with the forecasting and
utilisation of resources in better manner. This mainly provide assistance in
formulating up of better decisions regrading the profit and cost

Utilisation of management accounting information
as a decision-making tool
 Long term and short-term planning
 Optimum capital structure
 Role in management process
 Forecasting

Long term and short-term
Planning
This type of aspect mainly focuses on forecasting up of various business along
with the economical events in effective manner. By this, long and short term
policies are being manufactured by the company or the plans. Apart from
this, market situation is being analysed and this in turn formulates effective
strategies of marketing with the utilisation of operational approach.

Optimum Capital Structure
Funds can be raised by the company with the a help of some essential
resources. Capital can be taken by accountant from number of resources
such like Equity and Liability. Enhancing up the finance through the debt
provides provides advantages within the tax for a low kind of budget. In
this for the sources of costs, theories and profits analysation is being done.

Role in Management Process
In this kind of factor, there are some judgements which are being taken and therefore it
plays an essential role within the company. They are focused on explaining the
significance and needs of certain data for number of enforcements along with the
conveyance various data for administration. Thus, all the information is being kept by
the manager and effective statements are being given regarding the decision of cost and
another aspects.

Forecasting
Market is being anticipated by the director, supply of the new good and in addition
Govt. condition, innovative, political circumstance and more on. Therefore, they
can make the variety within the reports, deals and administration. Basic
judgements are being handled by them for competing with the challengers and
selecting the adjusting situations. It is fundamental for the future and long
achievement or advancement of organization.

Conclusion
From those over report, it could make reasoned that back and subsidizing
need aid the vast majority crucial and only particular organization On
perspective about development and improvement.

References
Buhalis, D. and Darcy, S. eds., 2011. Accessible tourism: Concepts and issues
(Vol. 45). Channel View Publications.
Choi, H.C. and Turk, E.S., 2011. Sustainability indicators for managing community
tourism. In Quality-of-life community indicators for parks, recreation and
tourism management (pp. 115-140). Springer, Dordrecht.
Evans, N., Stonehouse, G. and Campbell, D., 2012. Strategic management for
travel and tourism. Taylor & Francis.

Thank You