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.