PRINCIPLE OF ACCOUNTS SCHOOL BASED ASSIGNMENT
To investigated how has Covid-19 affected Fort Young Hotel Financially
Name of Candidates:Ajani Davis include you all candidate numbers
Mckel Ferrol
Alonzo Doctrove
Zaquan Berminham
Name of School:Saints Mary’s Academy
Subject: Principles of Accounts
Name of Teacher: Gemma Valerie-Caesar
Territory: Commonwealth of Dominica
Year of Examination:2021
TABLE OF CONTENT
Topic, Issue Problem
1
Objectives of Project
2
Overview of Topic
3
Methodology
4
Presentation and Analysis of Data
5
Conclusion
Recommendations
Bibliography
TOPIC/ISSUE
How has the COVID-19 pandemic affected the finances of Fort Young Hotel in Dominica
over a six-month period?
OBJECTIVES
Our objectives with this research paper are:
● To compare the sales of Fort Young Hotel 6 months prior to and 6 months after
Covid-19.
● Evaluate the cost of operation 6 months prior and 6 months after Covid-19.
● Analyze the profit or loss of the Fort Young Hotel 6 months before and 6 months after
Covid-19.
● Identify possible solutions/strategies that could reduce the impact of Covid-19 on the
Fort Young Hotel.
Business Overview
In regards to the COVID-19 pandemic, it has had a negative effect on the world's economy
and continues to cause disaster. It is with this knowledge that the researchers choose to
investigate how this pandemic has impacted the finances of Fort Young Hotel. The
Coronavirus a rather novel virus was first identified in Wuhan China on December 2019. By
the 12th of January the disease has spread to over 114 countries forcing the World Health
Organization to officially declare it as a pandemic. As the director of the WHO Tedros stated:
“This is not just a public health crisis, it is a crisis that will touch every sector…”. A statement
proven to be true especially in the Tourism sector of Dominica which includes the Fort Young
Hotel and Dive Resort. On March 22nd of 2019, Dominica receives its first positive case of
Covid-19 which resulted in complete lockdown of the country for a period of time which
suspended may business operation to include that of Fort Young Hotel. The Fort Young Hotel
has been in operation for the past 30 years and is one of the largest hotels on the island, which
offers a wide variety of activities to include Marina and island explorations, cuisine, meeting
spaces, and accommodation. Weekly guests booking of rooms are however their main
economic driver.
This research project will directly impact society as the Fort Young is one of the main
economic drivers providing both social and economic benefits for Dominica and its citizens.
The researchers are very enthusiastic in relation to the tourism industry they have undergone
this topic. It is the intent of the researchers to pursue future employment opportunities at
Fort Young Hotel and it has been a local hang-out on Friday nights for the researchers for
quite some time.
METHODOLOGY
To collect information for the research project an interview and a questionnaire was used. An
interview is a face to face meeting used to understand valuable information not known to the
public eye. An interview was conducted on the 19th of December, 2020 with the Accounting
Manager, (name of manager) at Fort Young Hotel. The questionnaire contained (number of
questions) free response questions.
Although the interview allowed the researchers the
flexibility to ask follow-up questions to gain clarity for specific information, some of the
information presented lack relevance to the research topic.
A questionnaire was also used in order to gain information. A questionnaire is a set of printed
or written questions with a choice of answers, devised for the purposes of a survey or statistical
study. The questionnaire contained (number of) closed ended and (number of) open ended
questions. These questionnaires were given to 10 employees of the Fort Young Hotel each
chosen at random. The questionnaires were given out on the 20th of December and collected
the same day. The questionnaire allows for the collections of large amounts of information
from a large sample within a short period of time but it to can be time consuming to analyze.