Analysis of Finance and Funding for Travel and Tourism Sector

This report examines finance and funding within the travel and tourism sector, highlighting the importance of managing financial resources for effective service delivery. It discusses management accounting's role in appraising business costs and operations, aiding financial administrators in decisi...Read More

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 a business process, managing financial resources are highly essential.
Better and effective services are being provided to the customers and if they
fail to manage the monetary resources in effective manner then they have to
face many kind of obstacles

Travel and Tourism

Management Accounting
Management accounting can be stated as concept through which it can be
determined as appraisal of business cost and operations which mainly
supports financial administrator in applying financial or accounting report.
Owner of Dalata Hotel Group Plc follows various kind of management
accounting system as it helps in attaining aims and objectives in 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 various kind of motive of due to every kind of company follows
management accounting. This mainly provide assistance of mentioned
company for manufacturing up of goods and services along with
forecasting and planning of better resources.

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 kind of aspect mainly forecasts various business along with economic
events effectively. Through this, long and short term policies are being
made by company or plans , market situation is being analysed and thus
create effective strategies of marketing with utilisation of operational
approach.

Optimum Capital Structure
Funds can be raised by business organisation by the help of these resources.
Accountant can take capital from various kind of resources such like
Equity and liability. Enhancing the finance via debt provides tax
advantages at low kind of budget. In this, analysation is being done for
cost of sources, theories and profits.

Role in Management Process
In this manager, essential judgement needs to be taken and thus it plays crucial
role in company. They explain the significance and requirement of such
information to various enforcement as well as conveyance several
information to administration. Therefore, company manager know all the
data and thus make effective statement regarding decision of cost and
another aspects.

Forecasting
There are various kind of motive of due to every kind of company follows
management accounting. This mainly provide assistance of mentioned company
for manufacturing up of goods and services along with forecasting and planning
of better resources. This provide help in making better decisions regrading about
profit and cost. So, duties, roles, responsibilities and functions of accounting
management in taking effective decisions are:

Conclusion
From the above report, it can be concluded that finance and funding are most
essential part of company in aspect of growth and development. There are
various pricing strategies which are utilised for attracting large number of
customers.

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