A

PROJECT REPPORT (SYNOPSIS)

ON

“A Descriptive Study of Accounting System methods of accounting

adapted by Tours and Travel Businesses. ”

MCOM (Advance Accounting and Taxation)

Submitted by
RD Bhavna Totaram Jadhav

Project Guide
PROF. DR SUNIL JOSHI

AT
C.H.M.E. Society’s
Bhonsala Military College,Nashik
For The Academic Year
2022-23
 INEDX
Chapter Particular Page No.

1 Introduction

2 Research Methodology

3 Profile of Nashik

4 Literature Review

5 Analysis and Interpretation of

Data
6 Conclusions and Bibliography
 Introduction
A Descriptive Study of Accounting System methods of accounting adapted by Tours
and Travel Businesses is a research paper that aims to provide an overview of the
accounting practices utilized by tour and travel businesses. The paper explores the
various accounting systems and methods used by these businesses, including cash
accounting, accrual accounting, and hybrid accounting systems.

The research paper examines the advantages and disadvantages of each accounting
system, as well as the factors that influence the choice of accounting system by tour
and travel businesses. Additionally, the paper explores the role of technology in
accounting and how it has influenced the accounting practices of these businesses.

The study is based on a literature review and empirical research conducted on a

sample of tour and travel businesses. The research findings reveal that most tour and
travel businesses use accrual accounting, which provides a more accurate and
comprehensive view of their financial position. However, the use of technology has
also led to the development of hybrid accounting systems, which combine elements of
both cash and accrual accounting.

 Objectives of Study
To provide an overview of the different accounting systems and methods utilized by
tour and travel businesses.

To examine the advantages and disadvantages of each accounting system used by tour
and travel businesses.

To explore the factors that influence the choice of accounting system by tour and
travel businesses.

To investigate the role of technology in accounting and how it has influenced the
accounting practices of tour and travel businesses.

To analyze the financial statements of a sample of tour and travel businesses and
compare the different accounting systems used.

To provide insights and recommendations for tour and travel businesses on how to
improve their accounting systems.

To contribute to the existing literature on accounting practices in the tourism industry.

  To provide policymakers with a better understanding of the accounting practices of
tour and travel businesses and how they can be improved to benefit the industry as a
whole.

 Justification of the Objectives

 Importance of the tourism industry: The tourism industry is a significant contributor
to many economies worldwide. Therefore, it is essential to understand the accounting
practices of tour and travel businesses to support the industry's growth and
sustainability.
 Need for accurate financial information: The accounting system used by a business
impacts the accuracy of its financial information. Therefore, it is crucial to examine
the different accounting systems used by tour and travel businesses to provide reliable
financial information.
 Increasing use of technology: Technology is playing an increasingly important role in
accounting. Therefore, it is essential to understand how technology is influencing the
accounting practices of tour and travel businesses and the implications for the
industry.
 Limited research in the area: There is limited research on the accounting practices of
tour and travel businesses. Therefore, this study contributes to the existing literature
on the topic and provides insights for future research.
 Potential benefits for tour and travel businesses: The study aims to provide insights
and recommendations for tour and travel businesses on how to improve their
accounting systems. This information can help businesses to improve their financial
management practices and potentially increase their profitability.

 Statement of Hypothesis
Tour and travel businesses that use accrual accounting will have more accurate and
comprehensive financial statements than those that use cash accounting or hybrid accounting
systems."

This hypothesis suggests that accrual accounting provides a better representation of a

business's financial position than other accounting systems. The study can test this hypothesis
by comparing the financial statements of tour and travel businesses using different accounting
systems. The study can also examine the factors that influence the choice of accounting
system by tour and travel businesses and how technology is influencing the accounting
practices of these businesses.
 .

 Universe and Sample Size

 The universe of A Descriptive Study of Accounting System methods of accounting
adapted by Tours and Travel Businesses is all tour and travel businesses globally that
maintain accounting records. However, due to practical constraints, it may not be
possible to study all tour and travel businesses. Therefore, the study will use a sample
of tour and travel businesses to represent the universe.
 The sample size will depend on the research methodology and the level of precision
required for the study. A larger sample size provides more accurate results, but it may
be costly and time-consuming. Conversely, a smaller sample size may be less
accurate, but it may be more feasible to conduct.
 The sample size can be determined using statistical formulas that take into account
factors such as the level of precision required, the variability of the population, and
the confidence level desired. The sample can be selected using random sampling
techniques to ensure that it is representative of the population.
 Overall, the sample size and selection process will depend on the research objectives
and the resources available for the study.

 Justification of Sampling Method

  Representative sample: Random sampling techniques ensure that every member of
the population has an equal chance of being included in the sample. Therefore, the
sample is more likely to be representative of the population, and the results of the
study can be generalized to the population.
  Precision: Statistical formulas take into account factors such as the level of
precision required, the variability of the population, and the confidence level desired.
Therefore, the sample size can be determined to ensure that the results of the study are
accurate and reliable.
  Cost-effective: Determining an appropriate sample size and selecting the sample
using random sampling techniques can be cost-effective compared to studying the
entire population. It can save time, money, and resources while still providing
valuable insights into the accounting practices of tour and travel businesses.

4.  Transparency: Using statistical formulas and random sampling techniques provides

transparency in the sample selection process. It ensures that the sample selection is
not biased and can be replicated by other researchers.

Overall, using statistical formulas to determine the sample size and random sampling
techniques to select the sample can ensure that the sample is representative of the population,
the results are accurate and reliable, and the process is transparent and cost-effective.


  Sources of Data Collection
1. Primary data: This involves collecting new data specifically for the study. Primary
data sources can include surveys, interviews, and observation.

 Surveys can be administered to tour and travel businesses to gather information about
their accounting practices. The survey questions can be designed to elicit information
on the type of accounting system used, the factors influencing the choice of the
accounting system, and the role of technology in accounting.
 Interviews can be conducted with accounting professionals working in tour and travel
businesses to gather more in-depth information about their accounting practices. The
interviews can be conducted face-to-face or through video conferencing.
 Observations can also be conducted to gather information about the accounting
practices of tour and travel businesses. The researcher can observe how the businesses
are maintaining their accounting records, the software and technology used, and the
accuracy and completeness of the financial statements.

2. Secondary data: This involves collecting data that has already been collected by
others for a different purpose. Secondary data sources can include financial
statements, accounting manuals, and industry reports.

 Financial statements can provide valuable information about the accounting practices
of tour and travel businesses. The researcher can examine the financial statements of
tour and travel businesses to determine the type of accounting system used and the
accuracy and completeness of the financial statements.
 Accounting manuals can also provide valuable information about the accounting
practices of tour and travel businesses. The researcher can review the accounting
manuals of tour and travel businesses to determine the accounting policies and
procedures followed by these businesses.
 Industry reports can provide information about the trends and issues in the tour and
travel industry. The researcher can examine industry reports to gain insights into the
accounting practices of tour and travel businesses and the factors that influence their
accounting practices.

Overall, a combination of primary and secondary data sources can be used to provide a
comprehensive understanding of the accounting practices of tour and travel businesses.

 Method of Data Collection

I. Primary Data Collection
II. Secondary Data Collection
  Techniques of Analysis of data
 Descriptive statistics: This involves using statistical methods to describe and
summarize the data collected from the sample. Descriptive statistics can be used to
determine the frequency distribution, central tendency, and variability of the data.
This can provide insights into the accounting practices of tour and travel businesses.
 Content analysis: This involves analyzing the content of the data collected from the
sample. Content analysis can be used to identify patterns and themes in the data. For
example, the researcher can analyze the responses to the survey questions or interview
questions to identify common themes or issues related to the accounting practices of
tour and travel businesses.
 Comparative analysis: This involves comparing the accounting practices of different
tour and travel businesses. Comparative analysis can be used to identify differences
and similarities in the accounting practices of tour and travel businesses. For example,
the researcher can compare the accounting practices of small tour and travel
businesses with large tour and travel businesses.
 Regression analysis: This involves analyzing the relationship between variables.
Regression analysis can be used to determine the factors that influence the accounting
practices of tour and travel businesses. For example, the researcher can use regression
analysis to determine the relationship between the size of the tour and travel business
and the type of accounting system used.
 Qualitative analysis: This involves analyzing the data collected from the sample using
non-numerical methods. Qualitative analysis can be used to gain a deeper
understanding of the accounting practices of tour and travel businesses. For example,
the researcher can use open-ended questions in the survey or interviews to gather
qualitative data on the challenges faced by tour and travel businesses in maintaining
their accounting records.

Overall, the techniques of analysis used for A Descriptive Study of Accounting System
methods of accounting adapted by Tours and Travel Businesses will depend on the research
objectives, the nature of the data collected, and the resources available for analysis.

 Statistical Tool to be Used

 Mean, Median, and Mode: These measures of central tendency can be used to
summarize quantitative data such as revenues, expenses, and profits. They can
provide a sense of the typical or average values of the data.
 Standard Deviation: This measure of dispersion can be used to describe the variation
or spread of the data around the mean. It can be used to understand the level of
consistency in the financial performance of tour and travel businesses.
 Regression Analysis: This can be used to analyze the relationship between variables.
For example, it can be used to determine the factors that influence the choice of
accounting system by tour and travel businesses.
  Analysis of Variance (ANOVA): This can be used to analyze differences between
groups. For example, it can be used to compare the financial performance of tour and
travel businesses that use different accounting systems.
 Chi-square Test: This can be used to analyze the association between two categorical
variables. For example, it can be used to determine if there is a significant association
between the size of a tour and travel business and the type of accounting system used.
 T-Test: This can be used to compare the means of two groups. For example, it can be
used to determine if there is a significant difference in the financial performance of
tour and travel businesses that use different accounting systems.

Overall, the choice of statistical tool will depend on the research question, the type of data
collected, and the level of analysis required. It is important to select the appropriate statistical
tool to ensure accurate and reliable results.

 Conclusion
I. Finding
II. Suggestion
III. Conclusion
IV. In conclusion, A Descriptive Study of Accounting System methods of
accounting adapted by Tours and Travel Businesses is an important research
area that can provide insights into the accounting practices of the tour and
travel industry. The objectives of the study include identifying the accounting
systems used by tour and travel businesses, understanding the factors that
influence the choice of accounting system, and evaluating the effectiveness of
the accounting systems used.
V. To conduct this study, various sources of data collection can be used such as
interviews, surveys, and financial statements. The data can then be analyzed
using statistical techniques such as descriptive statistics, regression analysis,
and analysis of variance. These techniques can help to identify patterns,
trends, and relationships in the data, providing insights into the accounting
practices of tour and travel businesses.
VI. The findings of this study can be useful for tour and travel businesses,
accounting professionals, and policymakers. They can help businesses to
improve their accounting practices and financial performance, and can inform
policymakers about the effectiveness of current regulations and policies
related to accounting in the tour and travel industry.
VII. Overall, A Descriptive Study of Accounting System methods of accounting
adapted by Tours and Travel Businesses is a valuable area of research that can
contribute to the development and improvement of accounting practices in the
tour and travel industry.
VIII.
 Bibliography
I. Reference Book
II. Reference material given by DR Sunil Joshi Sir