Report on Management Accounting Practices at Dalata Hotel Group Plc

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Added on  2024/04/25

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This report provides an overview of management accounting practices within Dalata Hotel Group Plc, a prominent player in the travel and tourism sector with 33 hotels and 7700 rooms. It highlights how the finance manager utilizes management accounting for various functions including budget management (transportation, room maintenance, import/export), expense management, sales management (room service, transportation, tourist purchases), and fund management. The report further elaborates on the role of management accounting as a decision-making tool, focusing on finance and funding decisions, problem-solving strategies, and the use of financial statements (margin distribution, profit evaluation, transaction details) by investors and finance managers. Ultimately, the report concludes that management accounting is crucial for informed decision-making related to finance and funding within Dalata Hotel Group plc.
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MANAGEMENT
ACCOUNTING
INFORMATION
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INTRODUCTION
Dalata hotel group plc has 33 hotels
which includes 7700 rooms.
Management accounting is done to
manage the funds and investments of
Dalata hotel group plc.
Dalata hotel group plc is well known in
the travel and tourism sector.
Management accounting is done by the
finance manager of the organization.
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MANAGEMENT ACCOUNTING
IN DALATA HOTEL GROUP PLC.
Dalata Hotel Group plc can use the
management accounting to identify their
investments and funds.
Budget management
Expense management
Sales management
Fund management
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BUDGET MANAGEMENT
Budget management is done to calculate
all the investments t0be done to run the
hotels.
Transportation budget
Room maintenance budget
Import/Export budget
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EXPENSE MANAGEMENT
Expense management is done to run the
hotels on daily basis. It includes the
transport, room service and other
expenses.
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SALES MANAGEMENT
Sales management is done to distribute
the profit margin between all the
investors and business owner.
Sales:
Room service
Transportation service
Tourist purchases
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FUND MANAGEMENT
Fund management provides financial
statements to the organization.
Investors does the fund management
with the finance manager of the
organization to identify total expenses.
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MANAGEMENT ACCOUNTING
AS DECISION MAKING TOOL
Decision making is done for business
growth and to increase the profitability.
Finance and funding decisions
Problem solving
Financial statements
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FINANCE AND FUNDING
DECISIONS
Financial decisions can be done using the
management accounting. The main
elements used while taking financial
decisions:
Business expenses
Financial statements
Forecasting
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PROBLEM SOLVING
Problem solving can be done using the
management accounting.
Steps included:
Identify the problem
Evaluate problem
Find alternative
Implementation of solution
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FINANCIAL STATEMENTS
Financial statements are used while
decision making by the investors and the
finance manager of Dalata Hotel Group
plc.
Margin distribution
Profit evaluation
Transaction details
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CONCLUSION
Decision making is done in Dalata hotel
group plc using management
accounting.
Management accounting plays a major
role while taking decisions regarding
finance and funding.
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