FOURTH

CLIENT PROJECT
BLOG PAGE 

CLOSURE AND
REFLECTION

Student ID: 21085872

Table of Contents
Project
 Overview
Solution/Model Testing
 Plan, Evaluation & Outputs
Solution/Model Adjustments
 & Amendments
Data
 visualization and communication of insight.  
Interpretation
 and application in comparison to Data Analysis Hypothesis
Conclusion,
 recommendations & next steps for Client
Client
 feedback
Key
 Lessons Learnt
Personal
 Reflection
Project Overview
 Client Background
• Client Name- Maldives Gas Pvt Ltd (MGPL)
• Startup- Year 1999 as a private limited company
• Main steer of business- Importing and
distributing LPG, Industrial, and Medical Gases.
 Problem

• Cash flow deficit over the past 5 years.

Scope

• The project is focusing on providing “strategic

recommendations” to make positive cash flow by
avoiding unnecessary cash leakages.
Project Overview
Constraint
• Time Constraints
• Information and Data
• Market Condition & Industry Regulation.
• Limited Access to Capital

 Project Eliminations
• Macro & micro economic factors.
- Example: Inflation, COVID Impact
• Geography
• Political instability
Solution/Model Testing Plan

Proposed Solution Testing Hypothesis Way to Test

Type

1. Implementation of Credit Management Increase the efficiency of Developed a

Practices/ policy. collecting debt questioner and sent
to the selected
2. Cash Flow Forecasting. Survey Prevent the short-term Cash sample to collect
flow deficits the Data.
3. Implement a system to control Ensure the Positive Cash Sample size: 110
Expenses and Cash Outflows. balance in reserves
(Qualtrics Flatform)
Solution/Model Testing Plan

1. Implementation 2. Cash Flow 3. Implement a

of Credit Forecasting system to control
Management Expenses and
Practices/policy Cash Outflows
Increase the Prevent the short- Ensure the Positive
efficiency of term Cash flow Cash balance in
collecting debt deficits reserves

Accept Hypothesis Accept Hypothesis Accept Hypothesis

Yes- Implement credit Yes- Start Using budget Yes- Develop in-house
management policy by forecasting to project software to monitor cash
outlining the debt future cash inflows and inflows and outflows to
collecting and credit outflows to prevent make better decisions.
payment policies. unnecessary cash
shortages. No- Reject the solution
No- Reject the solution
No- Reject the solution
Solution/Model Evaluation And Output
 Methodology- Quantitative
o FUNDAMENTAL TRAITS
• Data Collection- Primary Data (Survey Questionnaire)
• Data Analysis- Regression analysis and descriptive statistics
• Objectivity- To reduce bias and subjective interpretation.
• Generalizability-statistical analyses are performed to infer features of the larger population.
(Basias & Pollalis, 2018)

1. Starting
Point
 Method- Deductive
2. Formulation  The deductive method uses broad concepts, theories, or
4. Testing and of a hypothesis/
Confirmation Solution
hypotheses.
 Itenables thorough examination and validation of pre-existing
3. Data ideas or assumptions. (Woiceshyn & Daellenbach, 2018)
Collection
Solution/Model Adjustments & Amendments.  
 Sample Size

• Referring to the Morgan Table, the sample size was

defined as 140 staff out of a total staff of 220
(population size). Krejcie & Morgan (1970)

• Reduced the survey sample size to 110 by

identifying precise research objectives and the
survey's objectives to ensure a more practical
approach to the data analysis.

Total responses 94 out of 110

85%
Data visualization and communication of insight.  

Solution 1

 Implementation of Credit Management Practices/

policy.

 It demonstrates how various departments adhere to

various policies when reminding debtors of unpaid
collections.
Data visualization and communication of insight.  

How often do you evaluate and revise your cash flow

forecast? Solution 2
19% 12%
 Proper Cashflow Forecasting.
Annually
 According to the results of the
Irregularly/Not
10% applicable analysis, clients must have a
22%
common cashflow forecasting
Monthly
system as a company not for the
Quarterly individual departments in order to
Weekly
prevent short-term and long-term
31%
Cash flow deficits.
Data visualization and communication of insight.  

Do you employ any tools or software for

Solution 3 managing cash flow?
80%

 Implement a system to control Expenses and Cash Outflows. 70%

69%

60%

50% No
Yes
40%
31%
 It demonstrates that a sizeable portion of those involved in 30%

regular cash transactions lack the means to keep track of 20%

cash inflows and outflows. 10%

0%
1
Interpretation and application
Solution 1 Solution 2
What are the main difficulties you have with
managing cash flow? Do y o u p rio ritize ca sh flo w in th e crea tio n o f
y o u r fin a n cia l p la n a n d b u d g et?
Soaring operating expendi- Delayed customer col- 10%
tures; 11% lection; 41% 34%
5%
Periodic changeability 24%
in income; 21%

9%
Excessive debtor aging;
18%
16% Erroneous cash flow prediction; No Answer Definitely not Definitely yes
11%
Might or might not Probably not Probably yes

 Results indicate that 41% of respondents cited customer
payment delays as the major challenge to the cashflow
management while another 16% indicates excessive debtor
aging also have an impact.
Implementing credit management policy by outlining the debt
collection policies such as,
-Create a purpose statement by outlining the goals of the credit
policy.
-List the main responsibilities and roles of the credit team.
-Perform client credit checks
-Deciding on suitable credit terms
-Accounts Receivable Monitoring plan
 It demonstrates that a sizeable portion of the population lacks a clear
understanding of the significance of proper cash flow and how it affects
the company's ability to continue operating. Therefore, the below-
highlighted actions will help to formulate proper cashflow forecasting.
- Determine and Forecast objectives like Interest and Debt Reduction and
Liquidity Risk Management.
- Select a forecasting period, such as the necessity for short-term or long-
term liquidity.
- Pick a forecasting method whether direct or indirect.
- Find the information needed to forecast cash flows, such as available
cash balances and anticipated cash inflows and outflows and proceed
with the documentation.
(Egwu et al., 2021)
Interpretation and application
Solution 3

 Managing systems or software will help to access real-time

data and reports on your cash position, transactions, and
trends can also help you to better understand and manage
your cash flow. This can assist you in optimising your
financial management plan and helping you make smarter
judgements.
Conclusion, recommendations & next steps for Client
 CONCLUSION
Solution 1- Immediate Effective
 A sound credit policy that covers the entire firm, as opposed to having separate policies for each department, is the foundation of
good cash flow management practices.

Solutions 2 & 3- Client preference

 Utilising an accurate cash flow prediction is the most efficient approach to foresee future cash positions, avoid severe cash shortages,
and maximize benefits on any cash surpluses.

 Businesses must monitor and control business obligations to manage cash outflows effectively where company can use a software
system to set clear expense control targets by establishing precise objectives for cash outflow and spending control.
Next steps for Client
 Short Term
 Changing the payment date to suppliers.
 Use of overdrafts.
 Cost reduction.

(AL-Zararee et al., 2022)

 Long Term
 Implementation of Credit Management Practices/policy
 Cash Flow Forecasting
 Implement a system to control Expenses and Cash
Outflows:
Key lessons learnt

Excellent communication, analytical, and research skills.

In-depth knowledge of providing organisations with

financial and operational consultancy services.

For financial professionals to take advantage of modern

financial systems, appropriate IT skills are crucial.
 Personal Reflection

Client
Planning
Communication Technical Relationship
and Analysis
Skill kills managemen
skills
t
 Client Feedback

 Clear and Concise Communication: I was impressed with how effectively you
explained difficult financial topics. You had a talent for simplifying complex ideas into
understandable explanations, which greatly streamlined the process.
 Practical Recommendations: Your suggestions were not only wise but also quite
doable. They were valuable since they were customized to fit our particular wants and
restrictions.
 Professionalism: Your dedication to upholding ethical norms and professionalism was
clear throughout the engagement. It increased our faith in the reliability of your work.

It was a pleasure dealing with you, and I appreciate your efforts.

Asitha Prabhath
Accountant
Maldivegas Pvt Ltd.
asitha@maldivegas.com
 References
 Basias, N. and Pollalis, Y. (2018) ‘Review of Integrative Business and Economics Research’, Quantitative
and Qualitative Research in Business & Technology: Justifying a Suitable  Research Methodology, 7(1),
pp. 91–105. doi:10.58745/riber.

 Woiceshyn, J. and Daellenbach, U. (2018) ‘Evaluating inductive vs Deductive Research in Management

Studies’, Qualitative Research in Organizations and Management: An International Journal, 13(2), pp.
183–195. doi:10.1108/qrom-06-2017-1538.

 Krejcie, R.V., & Morgan, D.W., (1970). Determining Sample Size for Research Activities. Educational and
Psychological Measurement.

 Egwu, E.M., Orugun, F.I. and Adelakun, A. (2021) ‘Exploration of cash flow management for Enterprise’s
Business Performance’, Asian Journal of Economics, Business and Accounting, pp. 97–105.
doi:10.9734/ajeba/2021/v21i1030435.

 AL-Zararee, A., Ali Almasria, N. and Ahmad Alawaqleh, Q. (2022) ‘The effect of Working Capital
Management and Credit Management Policy on Jordanian Banks’ financial performance’, Banks and Bank
Systems, 16(4), pp. 229–239. doi:10.21511/bbs.16(4).2021.19.
THANK YOU.
 Appendix.
Appendix 1- Project Plan
Appendix 2- RACI & Communication Plan
Appendix 3- Project Risk Register