BTEC Level 5: Finance and Funding in Travel and Tourism - Report

This report examines the crucial role of management accounting information in the travel and tourism sector, specifically focusing on its application for financial performance evaluation and strategic decision-making. It provides an overview of various management accounting tools and techniques, including budgeting, ratio analysis, and financial statement preparation. The report further explores the utilization of management information systems (MIS) as a decision-making tool, highlighting their significance in trend comparison, forecasting, investment strategies, and capital raising within the context of the travel and tourism industry. The conclusion emphasizes the importance of management accounting in controlling business operations and making critical decisions, supported by references to relevant academic sources.

Finance and funding
in travel and tourism
(TASK 2)

CONTENT
 Introduction
 Tools and techniques of management accounting information
 Utilisation of management accounting information as a decision-
making tool
 Conclusion
 References

INTRODUCTION
Management accounting information is very important tool is
finding out the level of performance of establishment. It is
needed for Dalata hotel to find out their future action and
evaluate accordingly to find out the percentage of increment in
their outcome level.

Different types of tools and techniques of
management accounting
Management accounting Information: Managers or leaders use
this accounting system to find out that performance is according to
set strategic targets. If there is any deviation is find out proper
attention is made to increase the level of productivity and
performance to significant level.

Continue...
There are different type of
techniques available for
management accounting. Some
are discussed as follows:
• Preparation of Budgets
• Calculation of different types
of Ratio
• Preparation of Financial
outline

Utilisation of management accounting
information as a decision-making tool
• MIS is gaining popularity because of two main reason, first is
assist in making correct decision and second it reduces play
crucial role in keep significant data in organised way.
• MIS has to be used by organisation for making sure that all
process is completed in a more efficient time.

Continue...
Below is the assistance provided by MIS:
• Comparison of trends
• Forecasting
• Investment
• Raising capital
• New product and service

CONCLUSION
• In order to control various aspects and areas of important
business operations Management accounting system.
• It is very necessary in tour and tourism sector as they have to
make certain important and strategic decisions.
• The manager have to study such important issues that affect
any organisation in number of ways.

REFERENCES
Mayaka, M.A. and Prasad, H., 2012. Tourism in Kenya: An
analysis of strategic issues and challenges. Tourism
Management Perspectives, 1, pp.48-56.
Hummel, J. and van der Duim, R., 2012. Tourism and
development at work: 15 years of tourism and poverty
reduction within the SNV Netherlands Development
Organisation. Journal of Sustainable Tourism, 20(3), pp.319-
338.