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Finance and Funding in The Travel and Tourism Sector
Finance and Funding in The Travel and Tourism Sector
The Finance and Funding in the Travel and Tourism Sector is an assignment provided
pursuant to BTEC HND in Travel and Tourism Management under Unit number
and title number 2.
A. Examine the concept of CVP analysis and explain its importance in the financial
management of a travel and tourism business such as CHTC [P1.1].
B. Provide an analysis of pricing methods that CHTC can use to determine the price to charge
each tourist on the trip [P1.2].
M1: To achieve M1, you should have applied effective approach to study and analyse the
appropriate pricing method with justification to be used by CHTC. [Task 1 B].
C. Analyse the factors that will influence the profit CHTC will earn on the holiday trip [P1.3].
Using the data provided in the scenario above.
D1: Evaluate the viability of the holiday trip if 90 tourists book to go on the trip and draw
conclusion with justification whether CHTC should organize the trip if it wants to earn a profit of
at least 10,000 [Task 1 C].
Task 2 for LO 2:
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Context and Scenario:
CHTC wants to improve its decision making procedures by adopting modern management
accounting decision making techniques. For this reason, the finance director requires you, as a
newly employed finance officer to draft a guide for use by colleagues.
A. Explain the different types of management accounting information that could be used in
CHTC [P2.1].
M2: You should have identified and applied a range of techniques (such as variance analysis)
that can be applied in improving activities and performance within the company such as the
CHTC.
B. Assess the use of investment appraisal techniques as decision-making tools [P 2.2] using an
example from CHTC or other relevant company.
Department of Travel, Tourism and Hospitality Management
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Task 3 for LO 3:
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M3: Use appropriate approaches and structure to present and communicate the findings in
manner suitable for the management.
D2: For this, you should have planned, organised and managed substantial activities to
collect data and analyse the company financial statements and to present it appropriately.
D3: Apply creative thinking in concluding whether the company is financially stable in the
long term on the basis of your analysis of profitability and liquidity (D3).
Task 4 for LO 4:
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Learning outcomes
LO1 Understand the 1.1 explain the importance of costs and volume in financial management
importance of costs, of travel and tourism businesses
volume and profit for 1.2 analyse pricing methods used in the travel and tourism sector
management decision- 1.3 analyse factors influencing profit for travel and tourism businesses
making in travel and
tourism
LO2 Understand the use 2.1 explain different types of management accounting information that
of management could be used in travel and tourism businesses
accounting information as 2.2 assess the use of investment appraisal management accounting
a decision-making tool in information as a decision-making tool
travel and tourism
businesses
LO3 Be able to interpret 3.1 interpret travel and tourism financial accounts
financial accounts to
assist decision-making in
travel and tourism
businesses
LO4 Understand sources 4.1 analyse sources and distribution of funding for the development of
and distribution of funding capital projects associated with tourism
for public and non-public
tourism development
Identify and apply strategies to find Applied effective approach to study and
appropriate solution analyse the appropriate pricing method with
justification to be used by the chosen
Use critical reflection to evaluate own work company.
and justify valid conclusions
Evaluate the viability of the holiday trip if 90
tourists book to go on the trip and draw
conclusion with justification whether CHTC
should organize the trip if it wants to earn a
profit of at least 10,000