Unit 2 Finance and funding in Travel and tourism

HND in Travel and Tourism management | HND Assignments

ICON College of Technology and Management HND in Travel and Tourism Management Unit 02: Finance and Funding in the Travel and Tourism Sector (L 5) Session: September 2018

This unit will be assessed by a coursework consisting of 4 written tasks.

Task 1 for LO 1:

Context and Scenario:

The EUROCARIB TOURS is a major London-based European tour operator focusing on Caribbean holidays. EUROCARIB is planning a summer holiday trip to a Caribbean Holiday Resort lasting one month. The company will charter an airplane that carries only its tourists. The company will also book a floor of a hotel at the resort to accommodate its tourists. Both the airplane and the hotel accommodation will cost EUROCARIB £120,000, the variable cost per customer is £400, EUROCARIB will charge £1600 per tourist for the 4-Week holiday trip.

1. Examine the concept of CVP analysis and explain its importance in the financial management of a travel and tourism business such as EUROCARIB [P1.1].
2. Provide an analysis of pricing methods that EUROCARB 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 methods with justification to be used by EUROCARIB. [Task 1 B].

1. Analyse the factors that will influence the profit EUROCARIB will earn on the holiday trip using the data provided in the scenario above [P1.3].

• D1: Evaluate the viability of the holiday trip if 90 tourists book to go on the trip and draw conclusion with justification whether EUROCARIB should organize the trip if it wants to earn a profit of at least £30,000 [Task 1 C].

Task 2 for LO 2:

Context and Scenario:

EUROCARIB 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.

2. Explain the different types of management accounting information that could be used in EUROCARIB [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 EUROCARIB.

2. Assess the use of investment appraisal techniques as decision-making tools [P 2.2] using an example from EUROCARIB or other relevant company.

Task 3 for LO 3:

Context and Scenario:

You have been asked by the finance director to write a paper that explains financial statements analysis to the directors of EUROCARIB.

3. Download the main financial statements of ANY travel and tourism company of your choice and interpret the financial statements using appropriate ratios for profitability, liquidity, and investment [P3.1].

• 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:

Context and Scenario:

In future trips, instead of going to hire a hotel for its tourists, EUROCARIB intends to construct its own hotel in the Caribbean, having obtained a suitable site. That will cost £25 million.

4. Analyse the sources (both internal and external) and the distribution of funding the company has for the development of the new hotel [P4.1].

Relevant Information

1. Assessment Criteria Related to the Learning Outcomes

Department of Travel, Tourism and Hospitality Management

2. Basis for Merit and Distinction Criteria

3. Preparation guidelines of the Coursework Document
4. All coursework must be word processed.
5. Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch).
6. Font size must be within the range of 10 point to 14 point including the headings and body text (preferred font size is 11).
7. Standard and commonly used type face such as Arial should be used.
8. All figures, graphs and tables must be numbered.
9. Material taken from external sources must be properly refereed and cited within the text using Harvard standard
10. Do not use Wikipedia as a reference.
11. Word limit must be strictly followed.
12. Plagiarism and Collusion

Any act of plagiarism or collusion will be seriously dealt with according to the College regulations. In this context the definition and scope of plagiarism and collusion are presented below:

Unit 2 Finance and funding

Plagiarism is presenting somebody else’s work as your own. It includes copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort.

Collusion is copying another student’s coursework; stealing coursework from another student and submitting it as your own work.

Suspected plagiarism or collusion will be investigated and if found to have occurred will be dealt with according to the college procedure. (For details on Plagiarism &

Department of Travel, Tourism and Hospitality Management

Collusion please see the student hand book)

5. Submission
6. Initial submission of coursework to the tutors is compulsory in each unit of the course.
7. Student must check their assignments on ICON VLE with plagiarism software Turnitin to make sure the similarity index for their assignment stays within the College approved level. A student can check the similarity index of their assignment three times in the Draft Assignment submission point located in the home page of the ICON VLE.
8. All Final coursework must be submitted to the Final submission point into the unit (not to the Tutor). A student would be allowed to submit only once and that is the final submission.
9. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation.
10. Any portfolio for a unit must be submitted as a hardcopy to examination office.
11. The student must attach a tutor’s comment in between the cover page and the answer in the case of Resubmission.
12. Good practice
13. Make backup of your work in different media (hard disk, memory stick etc.) to avoid distress for loss or damage of your original copy.
14. Extension and Late Submission
15. If you need an extension for a valid reason, you must request one using an Exceptional Extenuating Circumstances (EEC) form available from the College examination office and ICON VLE. Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.
16. Late submission will be accepted and marked according to the college procedure. It is noted that late submission may not be graded for Merit and Distinction.
17. All Late coursework must be submitted to the Late submission point into the unit (not to the Tutor). A student would be allowed to submit only once and that is the final submission.
18. Submission deadlines: as above (page 1)

Submit to:               Online to the ICON VLE only

Unit 2 Finance and funding

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