Assignment Context and Scenario:
For this assignment you will required to base your works on the case study company from the travel and tourism sector provided. The objectives of a company are to build around its customers and employees, and look for opportunities around the world to be recognised as a world class company. The travel and tourism firm provided wants to be highly valued by its customers and all other stakeholders in order to increase the value of the business.
By providing the best quality of goods and services at the best possible competitive price, the company will be able to expand its business to the next level. This will not only enable the company to achieve competitive advantages, but will also serve the primary purpose of its shareholders
The aim of the assignment is to provide an opportunity for the learners to examine the role of finance fundingand the concepts of cost, volume and profit; use of management accounting information in decision making; interpreting the financial information, and the sources of finance in financial decision making in the travel and tourism sector.
You are required to complete the following four tasks in report format by using the financial statement provided by your lecturer. Use relevant theories and apply in context of the financial statement provided.
Total word limit is 3,000 words; your assignment should be at least 2,500 words in length, any calculation should shown in the appendix and the must not form part of the required number of words.
LO 1 Understand the importance of cost, volume and profit for management decision making in the travel and tourism
1.1 explain the importance of cost and volume in financial management of travel and tourism businesses
1.2 analyse pricing methods used in the travel and tourism sector
1.3 analyse factors including profit for travel tourism businesses
L02 Understand the use of management accounting information as a decision making tool in travel and tourism businesses
2.1 explain different types of management accounting information that could be used in travel and tourism businesses
2.2 assess the use of management accounting information as a decision making tool
LO3 Be able to interpret financial accounts to assist decision making in travel and tourism businesses
3.1 interpret travel and tourism financial accounts
LO4 Understand sources and distribution of funding for public and non-public tourism development
4.1 analyse sources and distribution of funding for the development of capital projects associated with tourism