Ias 16: The Purpose Of The Carnival Corporation

One of the major marketing strengths of carnival in its marketing department includes its focus on offering its products in three major markets i.e. premium, contemporary, and luxury markets. Secondly, through the use of its travel agents who receive bonuses for promoting the organization, Carnival offers alternative land package vacations.

Answer: Carnival should place a high priority on marketing. They can include more varied activities that should be marketed towards different lifestyles. This will attract more people who would not have considered a cruise in the past. They can offer many promotions that lower the cost of their cruise. The company can also offer a large selection of cruise options, with ports located in many countries around the world. (Source: http://www.echeat.com/essay.php?t=31046).

Carnival Corporation & plc is a global contender with the title of the world’s largest cruise and leisure travel company. The goal of this assessment is to analyze the strengths and weaknesses with the financial ratio analysis of the company along with conducting an internal factor evaluation matrix to view the status of the company in comparison with their top competitor, Royal Caribbean Cruises Ltd.

The IFRS is basically a set of accounting rules which are issued by the IASB based in London, UK. These accounting standards have originated from its predecessor IASC defining the term IAS, which occurred in the 70’s. it was only after 2000’s that the IASB took a strong hold under the label IFRS claiming to be a lot more independent even though pertaining to its predecessor, efficiently staffed and better funded. Caffermen and zeff (2006) discuss about the gradual spread of accounting has made a considerable progress over time, and with the adoption of IFRS worldwide, accounting procedures could be smoothened.

The Carnival Corporate Scholars Program has caught my attention because I believe that this program can help grow my entrepreneurship skills for my major and the extra-curricular outside of school I’m involved with. I am familiar with the company named Carnival as a cruise line for years and have deep respect for the success and smiles that Carnival puts on people’s faces. I just don’t want to receive everything I can from this program but also to give back to the company and beyond to create an even better positive impact towards this program once I am involved in it. Networking is key in business or entrepreneurships to help benefit a cause; I can use skills like this that I have developed over my professional developments not to make sure

Even though Carnival Cruise Lines’ present is looking positive, there are still some opportunities and challenges. Over the past two years Carnival Cruise Lines has captured transactional data about its customers but to date has not taken advantage of it to create value. And the data also reflect the Carnival relationship with travel agency. Carnival’s reservations office only can get roughly information from travel agency booking. And 85% booking from travel agency with 10% commission also causes Carnival want to enhance their own direct-sale channel. All of these indicate that the priority issue should be how to utilize the customer data to benefit both customers and company. And Carnival only have 50% of repeat guests. In terms of a

This topic will discuss how the cruise industry came into being and how it evolved into the modern cruise

Carnival has a strong market expansion strategy for selling the mass-market cruise category and first-time cruisers. Furthermore, Carnival Cruise Lines are successful because they have a clear vision and a commitment to their brand essence,

The history of the Carnival Corporation begins in 1972, when Ted Arison set up Carnival Cruise Lines as a subsidiary of the American International Travel Service. The first ship ran aground, but Arison remained steadfast in achieving his vision of a cruise line offering affordable vacation packages to middle-income consumers. By 1977, Carnival had three ships, and ten years later, as the industry leader, the company went public. In the early 1990s, Carnival began to diversify into land-based entertainment, thus changing its name to Carnival Corp. The company is the world's #1 cruise operator with about a third of the market.

Out of 70 brands serving the North American market since 1960’s.Carnival Corporation dominated ten major brands that nearly took over the 95% of the total market. Hence, Cruise Lines came into view as the largest cruise company in the world.

The other major North American cruise line, NCL Holdings, which was acquired by Genting Hong Kong Limited in 2000 has not released a sustainability report in years (Sheivachman, 2016). But NCL is also ranked to be one of the best cruises for the environment because it received the highest score on water quality and sewage treatment according to the FOE (Watson,

The International Financial Reporting Standards (IFRS) - the bookkeeping standard employed by organizations in more than 110 countries has some key contrasts from the U.S. sound accounting guidelines (GAAP). At the reasonably level, IFRS is viewed as all the more of an accounting standard which is based on principles as opposed to U.S. GAAP which is viewed as a standard based on rules. IFRS, ostensibly, incorporates and displays the financial aspects of a transaction better than U.S. GAAP.

IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS), International

There is a very lengthy and detailed due process that must be followed when developing standards for IFRS. The main goal of the IFRS Foundation is “is to develop, in the public interest, a single set of high quality, understandable, enforceable and globally accepted financial reporting standards based on clearly articulated principles.” The IFRS Foundation delegates the responsibility of developing standards to the International Accounting Standards Board (IASB). The IASB is continually striving to develop standards that offer the most accurate representation of an entity’s financial performance through its financial statements. These standards are intended to help lenders, investors,

Intangible assets are calculated on initial recognition at cost. After that they are carried at cost minus any amortization and impairment losses that are accumulated. If such assets have finite lives then they are amortized over that life and assessed for impairment if any. The amortization mechanism is reviewed at least once every financial year. This expense is recognized in the income statement. Gain and loss from intangible assets are measures as the difference between net disposal proceeds and carrying amount of asset and recognized in the profit and loss account.