Finance and Funding: Management Accounting for Tourism Sector

This presentation provides an overview of finance and funding within the travel and tourism industry, emphasizing the role of management accounting information in informed decision-making. It highlights the importance of finance and funding for promoting operations and development within the tourism sector. The presentation covers various types of management accounting information, including budget reports, financial statements, variance analysis, and forecasts, illustrating how these tools aid internal managers and decision-makers. It further explains how information systems facilitate decision-making by enabling comparisons with trends, forecasting sales, and informing decisions related to new products and services, investment, and capital raising. The presentation concludes that reliable funding for the tourism sector fosters growth, innovation, and the implementation of new ideas, supported by various information systems used by companies in the industry.

FINANCE AND FUNDING
Task 2 (2.1&2.2)

Covered content
• Introduction
• Objective
• Types of management accounting information
• Information system help in tourism sectors
• Conclusion
• References

Introduction
Finance and funding are important aspect in relation to travel
and tourism industry to promote and manage their operations
and help in development of tourism sectors.

Objective
The main purpose of this presentation is to know about how
management information system will help in making
appropriate decision regarding funding of travel and tourism
sectors.

Types of management accounting
information
Management accounting information is related to the
internal managers and decision makers. It is a management
tool which help in taking correct business decisions in
appropriate time.

Continue..
• Budget report
• Financial statement
• Variance analysis
• Forecasts

Information system help in
decision making
• Comparison with the trend
• Forecasting sales
• New product and service
• Investment decision
• Raising capital

Conclusion
From mentioned presentation it has been concluded that
availability of fund to tourism sectors are more reliable in
growth of new ideas and innovation in relation to travel and
tourism industry. Regarding this various information system
that are used to by company.

References
Ritchie, J.B., Amaya Molinar, C.M. and Frechtling, D.C., 2010.
Impacts of the world recession and economic crisis on tourism:
North America. Journal of Travel Research.49(1). pp.5-15.
Spenceley, A. ed., 2012. Responsible tourism: Critical issues for
conservation and development. Routledge.
Henderson, J.C., 2010. Sharia-compliant hotels. Tourism and
Hospitality Research.10(3). pp.246-254.
Pike, S., 2012. Destination marketing. Routledge.

Thank You