Posts Tagged: travel industry

No bailout for you!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

According to Business Insider, hundreds of thousands of tourists have been left stranded after UK Prime Minister Boris Johnson refused to grant the collapsed travel firm Thomas Cook a bailout of £150 million, or about $186 million. Questions: Explain Johnson’s idea of a moral hazard. How large is the Thomas Cook fleet of planes and… Read more »

Lose-Lose and Win-Win: Time for Change

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, Financial Reporting and Analysis, Managerial Accounting.

Most airline tickets are nonrefundable and require a hefty change fee plus any fare differential. And many hotel rooms are totally nonrefundable and nonchangeable, so you could lose the entire value of your room. So why isn’t it the same policy when the airlines or hotel changes your arranged plans? As this article points out,… Read more »