PROJECT SYNOPSIS

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TITLE OF THE PROJECT

Accounts Receivable Management of Offshore Engineering & Marketing Ltd.

By

INTRODUCTION The finance and its functions play a major role in effectively managing the Accounts Receivables and stability of the business. Effective Accounts Receivables Management is the key to success in most business. This project work is a study on Accounts Receivables Management in OFFSHORE ENGINEERING & MARKETING LTD. (OEML) Accounts receivable (A/R) is one of a series of accounting transactions dealing with the billing of a customer for goods and services he/she has ordered. In most business entities this is typically done by generating an invoice and mailing or electronically delivering it to the customer, who in turn must pay it within an established timeframe called "creditor payment terms."

Dear friend, Assignment and projects are a vital part of our MBA/MCA/BBA.... course. It is easy to secure 90%+ marks in it but the condition is that you have to submit a good quality material to your college/study centre. With the growing competition and availablity of majority of fake and duplicate players in the market it is impossible to get a unique and customize set of assignments, that is made just for you. So, contact us as we have an excellent track record of more than 5+ years in this field and you can easily score the best marks through us. We have flexible buying and payment options. Therefore, go ahead and reply us the requirements or give us a call/SMS on 09199993603. We will feel glad to assist you.

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About the Company OFFSHORE ENGINEERING & MARKETING LTD. (OEML) Offshore Engineering and Marketing Ltd (OEML) set up in 1993 by the steel visionary Mr. Nazih Al Sayed, has grown from single Jebel Ali office to multi – location and multiproduct steel stockiest with branch offices in Abu Dhabi, Iran, Iraq, Saudi Arabia, Egypt, Algeria & Libya. The organization is still expanding, integrating with new objectives. OEML started with a turnover of Aed.35,000,000.00 in the beginning and has gone up to Aed.325,000,000.00 The Company "OEML" is known for its contribution in the field of Oilfield products like Carbon Steel Seamless Pipes ranging from 1/8” to 48”, Casing & Tubing ranging from 2 7/8” to 20” and Valves, Fittings & Flanges since 1993. OEML is one among the world’s largest Oilfield and Gas field equipment suppliers covering 70,000 SQ.MTRS of storage area and stocks more than 60,000 metric tons of Carbon Steel Seamless Pipes, Casing & Tubing, Valves, Fittings, Flanges and accessories.

OEML supply full range of products from the leading names in the steel industry such as Sumitomo-Japan, Tenaris-Italy, Volzhsky-Russia, ArcelorMittal-Czech Republic & Romania, Interpipe-Ukraine, Bao Steel-China, Chengdu-China, PCK-China, Seah-Korea, Hyundai-Korea, Canadoil-Thailand, Jindal-India, Ulma-Spain, Bennex-Japan, Benken-Thailand, Arflu-Spain, Yoneky-Japan etc…. Presently the company has more than 350 clients for whom the company renders services to their expectations. “OEML” is certified as an ISO 9001 company by TUV SUD MIDDLE EAST.

AIMS AND OBJECTIVES Effective Management of Accounts Receivable presents an important factor for companies to achieve strategic advantage through improvements in cash flow. The primary objective of Accounts Receivables Management is to collect money due and to assist in meeting cash flow requirements. An effective accounts receivable function can assist in achieving the desired cash flow outcome through the timely collection of outstanding debts. The aims and objectives of the study includes:•

To analyze and evaluate the accounts receivables of the company using various ratio analysis techniques

Dear friend, Assignment and projects are a vital part of our MBA/MCA/BBA.... course. It is easy to secure 90%+ marks in it but the condition is that you have to submit a good quality material to your college/study centre. With the growing competition and availablity of majority of fake and duplicate players in the market it is impossible to get a unique and customize set of assignments, that is made just for you. So, contact us as we have an excellent track record of more than 5+

years in this field and you can easily score the best marks through us. We have flexible buying and payment options. Therefore, go ahead and reply us the requirements or give us a call/SMS on 09199993603. We will feel glad to assist you. You can deposit the amount in Citibank, ICICI, HDFC or SBI through netbanking. Cash deposits can be done in SBI at your nearest CBS branch. Kindly let us know which one u will prefer. Wishing you a great career and have a nice day ! Thanks and regards, Manish 0091 9199993603 http://www.assignments.site11.com/ http://smuassignment.tripod.com/ "Contact us for all kind of assignments, previous / sample / test question papers and projects"

CREDIT AND COLLECTION MEASURES The below mentioned can be considered as the various Credit & Collection Measures. •

Collection Effectiveness Index (CEI)

•

Days Sales Outstanding (DSO)

•

Best Possible Days Sales Outstanding or Average Terms Based on Customer Payment Patterns

•

Sales Weighted DSO

• True DSO *****

METHODOLOGY The requirements of data had been collected from both primary and secondary sources. The primary data was collected through telephonic and personal interviews. It was collected by informal discussions held with the concerned departmental heads. Also, information pertaining to receivables, cash, inventory and creditors were collected from the Finance Department.

Dear friend, Assignment and projects are a vital part of our MBA/MCA/BBA.... course. It is easy to secure 90%+ marks in it but the condition is that you have to submit a good quality material to your college/study centre. With the growing competition and availablity of majority of fake and duplicate players in the market it is impossible to get a unique and customize set of assignments, that is made just for you. So, contact us as we have an excellent track record of more than 5+ years in this field and you can easily score the best marks through us. We have flexible buying and payment options. Therefore, go ahead and reply us the requirements or give us a call/SMS on

09199993603.

We

will

feel

glad

to

assist

you.

You can deposit the amount in Citibank, ICICI, HDFC or SBI through netbanking. Cash deposits can be done in SBI at your nearest CBS branch. Kindly let us know which one u will prefer. Wishing you a great career and have a nice day ! Thanks and regards, Manish 0091 9199993603 http://www.assignments.site11.com/ http://smuassignment.tripod.com/ "Contact us for all kind of assignments, previous / sample / test question papers and projects" .

ANALYSIS For the purpose of analyzing the efficiency of accounts receivables management, various ratios have been calculated. Debtors Turnover Ratio: - This ratio measures the average period for which sales revenue will be held in accounts receivable. This measures the efficiency and effectiveness of receivables collection. Current Ratio: - This ratio indicates the firm’s ability to pay its current liabilities.

Using Appropriate Measures of Performance Can help: Identify areas of expertise

Identify areas of potential growth

Improve policies and procedures

Reduce errors or defects

Shorten lead time

Increase customer satisfaction

Reduce customer complaints

Increase customer retention

Improve financial performance

Improve employee morale

Focus employee training and support

Increase productivity

Increase cash flow

Reduce costs

Reduce bad debt

Perform fair individual and group evaluations

CONCLUSION It can be concluded that the cash inflow of the company will improve by the effective management of accounts receivables. This obviously will enable the company to have a sound liquidity position, keeping in view the needs of the business. Stringent credit policies and terms will help the company to generate cash flow on a regular basis and reduce the incidence of losses that may be caused by bad debts.

Dear friend, Assignment and projects are a vital part of our MBA/MCA/BBA.... course. It is easy to secure 90%+ marks in it but the condition is that you have to submit a good quality material to your college/study centre. With the growing competition and availablity of majority of fake and duplicate players in the market it is impossible to get a unique and customize set of assignments, that is made just for you. So, contact us as we have an excellent track record of more than 5+ years in this field and you can easily score the best marks through us.

We have flexible buying and payment options. Therefore, go ahead and reply us the requirements or give us a call/SMS on 09199993603. We will feel glad to assist you. You can deposit the amount in Citibank, ICICI, HDFC or SBI through netbanking. Cash deposits can be done in SBI at your nearest CBS branch. Kindly let us know which one u will prefer. Wishing you a great career and have a nice day ! Thanks and regards, Manish 0091 9199993603 http://www.assignments.site11.com/ http://smuassignment.tripod.com/ "Contact us for all kind of assignments, previous / sample / test question papers and projects" RECOMMENDATIONS The company must follow a rigorous system of credit evaluation and set proper credit standards for its customers. The company must follow the proper credit terms and policies for a regular cash flow. Effective follow-up by commercial departments should be made to accelerate the collection processes.

Dear friend,

Assignment and projects are a vital part of our MBA/MCA/BBA.... course. It is easy to secure 90%+ marks in it but the condition is that you have to submit a good quality material to your college/study centre. With the growing competition and availablity of majority of fake and duplicate players in the market it is impossible to get a unique and customize set of assignments, that is made just for you. So, contact us as we have an excellent track record of more than 5+ years in this field and you can easily score the best marks through us. We have flexible buying and payment options. Therefore, go ahead and reply us the requirements or give us a call/SMS on 09199993603. We will feel glad to assist you. You can deposit the amount in Citibank, ICICI, HDFC or SBI through netbanking. Cash deposits can be done in SBI at your nearest CBS branch. Kindly let us know which one u will prefer. Wishing you a great career and have a nice day ! Thanks and regards, Manish 0091 9199993603 http://www.assignments.site11.com/ http://smuassignment.tripod.com/

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