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    ECONOMY OF THE HOTEL INDUSTRY IN SYDNEY

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    Trends and major party features of Sydney hotel industry. Account the leve of income and price elasticity of demand in hotel industry of Sydney both in long and short run. Responsiveness of demand for hotels in Sydney to change the income....

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    The hotel industry in Australia has emerged as one of the fastest growing sector in terms of return from assets. As per the Savills report 2017, the hotels in Sydney have succeeded in standing out against the compressing yields of recent times with their notable KPIs (Publications.savillis.com.au, 2017). On basis of market report published by Savills Australia Hotels, the rate of domestic and international visitors are found to grow by 5% and 11.5% respectively in the financial year 2016. Since 2000, such a high growth level has not been visualized ever. The 10 year forecast of Tourism Research of Australia is found to reveal the fact that a continuous positive growth could be visualized and the annual rate of growth of domestic and international visitors might be 3.1% and 5.6% respectively (Publications.savillis.com.au, 2017).

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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