Finance and Funding: Management Accounting Information in Tourism

This presentation delves into the critical role of finance and funding within the travel and tourism sector, highlighting the significance of management accounting information. It covers various types of management accounting, including budget reports for future expense planning, investment decisions for effective capital resource utilization, and variance analysis for labor and material cost control. The presentation also discusses how management accounting information aids in decision-making, such as controlling expenses through proper budgeting and identifying areas of poor performance using variance analysis. Tools used by Dalata Hotel Group plc for profit maximization are also mentioned. This resource is ideal for students seeking a comprehensive understanding of financial management in the travel and tourism industry, and Desklib offers additional materials to support their studies.

Finance and Funding
In travel & Tourism

Table of Content
 Introduction
 Various kinds of management accounting information
 Use of management accounting information
 References

Introduction
Finance and funding is a very necessary concept which helps
in determining a proper amount which firm can be invest in
the development of an economy. Travel and tourism sector
is a rapid growing industry which gives the more benefit
and also benefit to the business. This presentation covers
the various kinds of management accounting information
which could be used in the travel and tourism business

Various kinds of management accounting
information
Management accounting refers to the daily basis
transactions which are needed to attempt through
managers. Management accounting is a provision related
to the financial data and also give an advice to an
organisation for the development and growth of business.

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There are different types of management accounting
related to the travel sector given below as above:
Budget report- The over all expenses which can be occurred
in the future and then also documented in the report of
budget. With the help of using this, the whole expenses
can be occurred in the future that can be reported and it
will be helpful in developing an effective plan.

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Investment decisions- These are the decisions which are
related to use of capital resources in an effective or proper
manner in order to gain some good return in a proper
manner. There is a ned of every business to conduct their
business in a proper manner and also identifying the
many investment option in order to gain profit.

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Variance analysis- It is a
kind of management
accounting information
used through the
company. In this tool a
variance is calculated
affiliated to the labour and
material. Row 1 Row 2 Row 3 Row 4
0
2
4
6
8
10
12
Column 1
Column 2
Column 3

Use of management accounting information
The owners of an organisation consume its funds in
different capital projects and the main motive of
managers to want to good return of investment. Dalata
Hotel Group plc uses some of the effective tools for
earning the more profit in an organisation.

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There are some uses of management accounting
information as a tool of decision making given below as
above:
Keeping expenses in control- With the help of making the
proper budget firm can manage and control all budget. In
context to identify the amount of all expenses manager
required to develop a prediction. It is necessary that the
amount of predication should be natural.

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Determining poor
performance- With the help
of using the accounting
information employer can
determine its areas of bad
performance. It can only be
done using the variance
analysis.

References
Airey, D. and Chong, K., 2010. National policy-makers for
tourism in China. Annals of tourism Research. 37(2).
pp.295-314.
Cole, S. and Morgan, N. eds., 2010. Tourism and inequality:
Problems and prospects. CABI.
Koutra, C. and Edwards, J., 2012. Capacity building through
socially responsible tourism development: A Ghanaian
case study. Journal of travel research. 51(6). pp.779-792.

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