Topic- Finance and funding in travel and tourism
This report considers the 4 tasks to be performed.
Based on the present scenario perform all the 4 tasks.
NOTE: for this report you are required to take the EUROCARIB TOURS company.
SCENARIO OF ALL THE TASK ARE PRESENT BELOW:
TASK 1
Major European tour company which emphasis on Caribbean vacations, EUROCARIB TOURS is situated in London. A one-month summer vacation trip to a Caribbean vacation resort is being organised by EUROCARIB. The corporation will hire a private jet to carry its visitors. In order to accommodate its visitors, the corporation will also reserve a floor of a hotel at the resort. The total cost to EUROCARIB for the aircraft and hotel accommodations is £120,000; the variable cost per customer is £400; and the total cost per traveller for the four-week vacation is £1600.
based on this task you are required to perform the LO1, D1 & M1.
TASK 2
In order to enhance the decision-making process a EUROCARIB TOURS adopts the trending management accounting decision technique. For this the finance director of a company appoint you as a new employee, finance officer to form a guideline which has to be used by the colleagues.
Based on this scenario you are required to perform the LO2 & M2.
TASK 3
The finance director has asked you to write a report which explains the analysis of financial statement to the EUROCARIB directors.
For this task perform the LO3, M3, D2 &D3.
TASK 4
The EUROCARIB is thinking to build a new own hotel in Caribbean for the upcoming trips, instead of hiring the hotel. It will cost £25 million.
For this you are required to attempt only LO4.
LEARNING OUTCOMES
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Learning outcomes |
Pass |
Merit |
Distinction |
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LO1. State an importance of cost, volume and profit for decision-making in management of travel and tourism company. |
P1.1 explicit the necessity of volume and cost in the financial management of EUROCARIB TOURS. P1.2 examine the pricing methods which are used in this tourism sector. P1.3 identify the factors which influences the profit for travel and tourism businesses. |
M1. identify and apply the effective approach to find the appropriate pricing method with justification. |
D1. draw a conclusion with justification and provide reflection your workings. |
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LO2. Explain the usage of management accounting information regards as a decision-making tool of travel and tourism in business. |
P2.1 state the kinds of management accounting information which is used in this sector. P2.2 critically evaluate the utilisation of investment appraisal in management accounting information as a decision-making tool. |
M2. select the appropriate technique which helps to enhance the performance of EUROCARIB TOURS. |
D2. in order to analyse the financial statement, you should plan, organise and manage the activities to collect data. D3. apply the creative thinking and state the financial stability of company and also analyse the liquidity and profitability of company. |
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LO3. Interpret the final accounts which help in decision-making process of travel and tourism business. |
P3.1 analyse the final accounts of travel and tourism sector. |
M3. demonstrate the structure to present and communicate appropriate findings. |
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LO4. Examine the sources of funding and distribution of funding for the development of public and non-public tourism. |
P4.1 examine the distribution and sources of funding for the development of capital in project related with tourism industry. |
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