Task-1
Scenario
The EUROCARIB Tours operators is emphasizing on Caribbean holidays. Moreover, it is planning trip for the summer holiday to the Caribbean holiday resort lasting one month. The accommodation cost for this purpose is euro 120000, whereas the variable cost per customer euro 400. The charges taken for 4-week holiday trip is euro 1600
- What is meant by CVP analysis and also describe its importance in financial management of the travel and tourism business such as EUROCARIB (P1.1)
- Produce the pricing methods analysis that the above tor business is using for determining the prices that is to be charged from each tourist on the trip (P1.2)
M1 for this purpose, apply appropriate approach and also identify accurate pricing methods and that too with the justifications
- What are the factors that impacts Profit of the EUROCARIB that will be earned on the holiday trip (P1.3)?
D1 Do an evaluation of the viability of the trip if 90 tourists have made the bookings to go on a trip and draw the conclusion along with the justification that whether EUROCARIB should organize the trip if it wants to earn a profit of at least £30,000
Task-2
Scenario
EUROCARIB wants to make improvement in the procedure of the decision making by adopting the techniques of modern management accounting decision making. In this context, the finance director on role wants you to make a draft for the usage of colleagues-
- What are the distinct types of management accounting information which could be used in EUROCARIB (P2)
M2 Make use of series of techniques which can be considered useful for enhancing the activities and performance
- Why the investment appraisal techniques are utilised as the tools for decision making(P2.2)
Task-3
Scenario
The finance director on duty requested you to produce a paper that demonstrate the analysis of financial statement to the directors of EUROCARIB
- Make a download of the key financial statements of EUROCARIB and then do the interpretation by calculating the appropriate ratios for the profitability, liquidity and investment P3.1
M3 by the use of approaches and structure, present and communicate the findings in appropriate manner
D2 in this context you are required to plan, organise and manage the substantial activities for gathering the data and accordingly analysing the financial statements of the company
D3 Make use of the creative thinking skills and depict whether the company is financially stable in long term on the basis of analysis
Task-4
Scenario
Seeing future aspect, EUROCARIB wishes to construct its own hotel in the Caribbean by obtaining the suitable site. The cost of which is around euro 25 million
- What sources will be used as a funding for the company in order to develop the new hotel P4
Learning outcomes |
Pass criteria |
LO1 Provide an understanding on the importance of cost, volume and profit for managing the decision making in travel and tourism |
1.1 What is the importance of costs and volume in financial management of travel and tourism businesses 1.2 Identify pricing methods used in the travel and tourism sector 1.3 Examine the factors influencing profit for travel and tourism businesses |
LO2 Provide an understanding on the usage of management accounting information as the tool of decision making in the business of travel and tourism |
What are the distinct types of management accounting information which could be used in EUROCARIB Why the investment appraisal techniques are utilised as the tools for decision making |
LO3 Do interpret the financial account that assist in the decision making |
1. Make a download of the key financial statements of EUROCARIB and then do the interpretation by calculating the appropriate ratios for the profitability, liquidity and investment |
LO4 the source of funding for the public and non-public tourism development |
What sources will be used as a funding for the company in order to develop the new hotel |
Merit |
Distinctions |
M1 for this purpose, apply appropriate approach and also identify accurate pricing methods and that too with the justifications |
D1 Do an evaluation of the viability of the trip if 90 tourists have made the bookings to go on a trip and draw the conclusion along with the justification that whether EUROCARIB should organize the trip if it wants to earn a profit of at least £30,000 |
M2 Make use of series of techniques which can be considered useful for enhancing the activities and performance |
D2 in this context you are required to plan, organise and manage the substantial activities for gathering the data and accordingly analysing the financial statements of the company |
M3 by the use of approaches and structure, present and communicate the findings in appropriate manner |
D3 Make use of the creative thinking skills and depict whether the company is financially stable in long term on the basis of analysis |