Unit 2 Finance and Funding in the travel and tourism sector

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT

Pearson BTEC Level 5 HND in Travel and Tourism Management (QCF) Unit 2: Finance and Funding in the Travel and Tourism Sector QCF L5

Session September 2013

Course work (Word limit 3000)







HND Assignment Brief


















Programme title


Pearson BTEC Level 5 HND in Business



















Unit number and title


Unit 2

Finance and Funding in the travel and tourism sector

















Assignment number and

1 of 1

Managing Finance in TTM





title

































Module leader


Mr Asare Amaning





















Student name

























Assessor (receiving the

Kofi M









work)





































Issue date


17 February 2014

Deadline(s)
02-07 June






2014

















Resubmission


Y



Deadline
TBA



















Work submitted after the deadline will be capped at a Merit grade unless










Late submission:


extenuating circumstances apply- see programme handbook for further





information. Work submitted later than two weeks after the deadline will














not be accepted.

















Feedback


Feedback will be available within 2 to3 weeks of initial submission.

























4 tasks – all in essay format


Submission dates TBA













Task 1 Related understanding the cost, volume and profit
4th week





for making decisions in the travel and tourism industry







Task 2 Related to understanding the use of management







accounting information as a decision making tool
8th week





Task 3 Related to interpreting financial accounts to help







make decision





11th week





Task 4 Related understanding the sources and
14th week





distribution of funding in the travel and tourism sector























General

The work you submit must be in your own words. If you use a quote or a



Guidelines


illustration from somewhere you must give the source.




       Include a bibliography at the end of your document. You must give all your sources of information.

       Make sure your work is clearly presented and that you use correct grammar.

       Wherever possible use a word processor and its “spell-checker”.


Assignment Brief – continued

Introduction

and
Assignment Context and Scenario:
background

notes
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 and 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.

































2


Assignment Brief – continued




Tasks

What you must do




Grading
















Criteria




Task 1


LO 1:







P1.1,






Analyse and discuss the methods of costing and the concept of cost,
















volume and profit in the travel and tourism industry using the given company

P1.2,







as the example. Discuss how the pricing strategies are adopted in the travel

P1.3







and tourism sector using the case study example.




M 1, D 1




Task 2


LO 2:
















Analyse the role of management accounting information as a decision

P 2.1







making tool in your case study organisation and Identify and discuss the

P 2.2







objectives of a budget and assess its importance generally with special

M 2, D 2







emphasis in the travel and tourism industry










Task 3


LO 3:















Using the financial statements of the company provided, interpret the

P 3.1















financial  statements  using  appropriate  ratios  for  profitability,  liquidity,










efficiency, investment and insolvency.













Detailed calculations of specific and relevant financial values and ratios

M 3







must be included as an appendix and must not form part of the required










number of words.













LO 4:













Task 4


Identify appropriate sources of finance for the company to expand its

P 4.1







operations. Any analysis must include advantages, disadvantages and

M 4,







contrasts for each source of finance













Analyse each source of finance identified in Task 1 in detail and discuss its










impact on the financial statements with reference to Income Statement,










Statement of Financial Position and Statement of cash flows.






































Evidence checklist


We need to see:

Tick
















Check this carefully to make


4 answers in essay format










sure you hand in the right work








































How your work

1.  Your work will be assessed using the Grading Criteria statements which






are shown below. The Criteria which will be assessed on this assignment





will be assessed

are shown in the section below labelled Grading Criteria and Learning










Outcomes. These are shown against the tasks so that you know exactly










which task(s) refer to which criteria.














2.  In the assignment you will have the opportunity to achieve at all levels –










Pass, Merit or Distinction – and your highest achievement for each of
















3





Assignment Brief – continued


the Grading Criteria will count. Occasionally a particular task may offer restricted opportunities (i.e. the best grade anyone could achieve would be a Pass or Merit) in which case the maximum grade will be specified.
3. If the evidence you submit does not meet the requirements of a Pass in any of the Grading Criteria you will receive R grades and will need to consult your assessing tutor about resubmission or other opportunities to achieve the grades.





Grading Criteria:
Study these criteria carefully to choose your grade



      The following criteria indicate what is expected in order to achieve a Pass, Merit or Distinction.
      To gain a Pass in a BTEC HNC/HND Unit, you must meet ALL the Pass criteria; to gain a Merit, you must meet ALL the Merit and Pass criteria; and to gain a Distinction, you must meet ALL the Distinction, Merit and Pass criteria





Learning outcomes
Pass
LO1.
1.1 explain the importance of cost and volume in financial
Understand the importance of
management of travel and tourism businesses
cost, volume and profit for
1.2 analyse pricing methods used in the travel and tourism sector
management decision making in
1.3 analyse factors including profit for travel tourism businesses
the travel and tourism

L02.
2.1 explain different types of management accounting information
Understand the use of
that could be used in travel and tourism businesses
management accounting
2.2 assess the use of management accounting information as a
information as a decision making
decision making tool
tool in travel and tourism

businesses

LO3.
3.1 interpret travel and tourism financial accounts
Be  able  to  interpret  financial

accounts   to   assist   decision

making  in  travel  and  tourism

businesses



LO4.
4.1 analyse sources and distribution of funding for the development
Understand sources and
of capital projects associated with tourism
distribution of funding for public

and non-public tourism

development

















4


Assignment Brief – continued



Merit and distinction assessment criteria (contextualized)

LO1:



In-depth analysis and
M1: In-depth analysis of the costing methods and the pricings


evaluation of the costing
strategies used by the travel and tourism company provided


structure and the pricing
D 1: Comparative evaluation of the pricing strategies used by the






company and a competitor and independent judgement.


LO2:



In-depth analysis of
M2: The ability to critically analyse methods and tools used by the


management information
company in utilising the management information.


system and critical



evaluation of the strengths
D2: Critically evaluate the strengths and weaknesses of the company’s


and weaknesses
management information system.


LO3



Analysis and interpretation
M3: Being able to analyse the financial ratios and other financial


of the financial statements
statements the company effectively






LO4:



Critical analysis of the
M4: Critical analysis of the sources of funds available and the


sources and distribution of
distribution of funds in the public tourism development ventures


funds






Internal verifier
Signature (IV of the brief)



Mr. N Saleem


Date
10/02/14




































5


Assignment Brief – continued


Guide to student

1. Preparation guidelines of the Coursework Document:

a.  All coursework must be word processed.

b.  Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch).
c.  Font size must be within the range of 12 point in body text and heading 14 point

d.  Standard and commonly used type face such as Times new Roman or Arial etc should be used.
e.  All figures, graphs and tables must be numbered.

f.  Material taken from external sources must be properly refereed and cited within the text using
Harvard standard

g.  Word limit must be strictly followed.

h.  Before submitting the assignment students must check their course work on “MOODLE Site” with Plagiarism Software (TURN IT IN) and obtain a certificate. Examination officers and relevant tutor
or assessment committee have the right to ask the student to submit the softcopies of the assignment.
i.  Do not use Wikipedia as a reference)

2.  Plagiarism

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

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; copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For details on Plagiarism please see the student hand book)

3. Submission

a. All coursework must be submitted on the VLE with cover page before the deadline.
b. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted on a floppy disc or CD together with the documentation.
c. The student must attach a copy of the question in between the cover page and the answer.

4. Good practice:

a. Make backup of your work in different media (hard disk, floppy disk, memory stick, e-mail etc.) to avoid distress for loss or damage of your original copy.

b. Make an extra hardcopy of your work submitted for your own reference or later use

5. Extension & Late Submission

If you need an extension for a valid reason, you must request one using a Coursework Extension Request Form available from the college and submit to the Programme Manager. 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 extension form must be accompanied by evidence such as a medical certificate in the event of you being sick. Late submissions with mitigating evidence will be accepted and marked according to the college procedure. Please note that late submissions may result in lower grades or rejections.









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