Educational tourism: A profitable business. Cost calculation and profitability prediction for a summer language camp in Finland, hosted by Finnish Academy Oy
Le, Ngoc (2020)
Lataukset:
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020121728939
https://urn.fi/URN:NBN:fi:amk-2020121728939
Tiivistelmä
The thesis studies the potential of Finnish education export in the form of educational
tourism and analyzes the profitability of Finnish Education Academy Oy’s summer camp
program in 2021 for international students by implementing the Cost-Volume-Profit method. The researcher conducts 2 qualitative interviews with 2 experts in the
educational service industry. The 2 interviewees suggest the activities that should be included in the summer camp itinerary. Therefore, there are 2 different designs to be
considered. The author makes cost calculations based on these 2 scenarios, then compares the total costs and the predicted profits between these tour designs. The researcher, as an
administrative accounting assistant, utilizes CVP analysis while conducting the calculations and identifies the relationships between cost, volume and profit in an educational tour. The thesis uses several accounting formulas that are common and useful in most business fields. The conclusion evaluates the profitability of Finnish education export in general, and the profitability of Finnish Education Academy Oy’s summer
camp program in particular. Additionally, the thesis author also observes the functionality of CVP analysis and the impact on the profit from changes in the cost structure.
tourism and analyzes the profitability of Finnish Education Academy Oy’s summer camp
program in 2021 for international students by implementing the Cost-Volume-Profit method. The researcher conducts 2 qualitative interviews with 2 experts in the
educational service industry. The 2 interviewees suggest the activities that should be included in the summer camp itinerary. Therefore, there are 2 different designs to be
considered. The author makes cost calculations based on these 2 scenarios, then compares the total costs and the predicted profits between these tour designs. The researcher, as an
administrative accounting assistant, utilizes CVP analysis while conducting the calculations and identifies the relationships between cost, volume and profit in an educational tour. The thesis uses several accounting formulas that are common and useful in most business fields. The conclusion evaluates the profitability of Finnish education export in general, and the profitability of Finnish Education Academy Oy’s summer
camp program in particular. Additionally, the thesis author also observes the functionality of CVP analysis and the impact on the profit from changes in the cost structure.