WESTERN GLOBAL SERVICES (PVT.) LTD.

Dedication

This project is dedicated to my parents who ever wished to see me as a successful man in every

field of my life. May they live long, praying for me!!!

(Ameen)

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ACKNOWLEDGEMENT

All praise to Allah, the most merciful, kind and beneficent, and the source of all knowledge,

wisdom within and beyond my comprehension. He is the only God, who can help us in every

field of life. All respect and possible tributes goes to my Holy Prophet Mohammad (SAW), who

is forever guidance and knowledge for all human beings on this earth.

Heart full thanks to Ali Gilani without his cooperation it was not possible for us to complete my

BBA (Hons.) Program and he guided and helped me through timely suggestions, valuable

advices and specially the sympathetic attitude, which always inspired me for hard work.

I am proud to say that I am very grateful to my family whose kind prayers and

Cooperation helped us at every step of my work. Special thanks go to my parents for their

cooperation for the sake of my knowledge.

I am really very thankful to Muhammad Farhan Javed (Assistant to Director (Finance) &

Project Coordinator) for his cooperative attitude during the completion of my project work.

He helped and supported me during gathering and analyzing information.

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EXECUTIVE SUMMARY

To interrupt my skills and educational knowledge of Finance I done my internship in Western

Global Services (PVT) Limited Allah Wali Market F-8/1 Islamabad and to know how I will work

in finance department and among various types of people have different attitude.

The objective of this Internship was to explore the issues relating to Finance and Accounting and

to find out problems regarding the theoretical concepts with practical experience working in an

organization during the internship and study the system of western Global services (PVT)

Limited Islamabad. There are many possible improvements, which we can make positive

changes in the system.

With development of computerized system the load of work can be decreased.

It is not easy for it to implement a new system immediately it takes a lot of time to replace

systems. Once implemented its testing takes more time. So it is important for the organization to

develop a research department for redesigning the operations of the company.

New comers have more knowledge about business administration and skilled in information

technology. To update the skills, it is suggested to develop human resources training programs

and refresher courses.

Table of Contents

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Dedication........................................................................................................................................1
Acknowledgement...........................................................................................................................2
Executive Summary.........................................................................................................................3
1. Overview of the Organization......................................................................................................6
2. Western Services (Pvt) Ltd Mission & Vision…………………………………………………8
a. Our Mission .........................................................................................................................8
b. Our vision ............................................................................................................................8
c. Strategy ................................................................................................................................8
3. Company Marketing……………………………………………………………………………9
4. Company Product Line…………………………………………………………………………9
5. Western Global Services (Pvt.) Ltd. .........................................................................................10
6. Organizational Outlook..............................................................................................................11
7. Number of Employee of Western Global Services....................................................................12
8. Duties And Responsibilities Of Departmental Heads. ..............................................................13
a. Finance Manager............................................................................................................13
b. Accounts Manager.........................................................................................................13
c. Human Resource Manager.............................................................................................13
d. Purchase Manager..........................................................................................................14
9. Organizational structure of finance department.........................................................................15
a. Introduction: ..................................................................................................................15
b. Structure Of Finance Department..................................................................................15
c. Finance Department......................................................................................................16
b. Company’s Financial Policies:- ....................................................................................16
c.Functions of Finance Department:- ...............................................................................16
d. Accounts Department.....................................................................................................17
10. Competitors..............................................................................................................................17
11. SWOT Analyses ......................................................................................................................18
a. Strength..........................................................................................................................18
b. Weakness: .....................................................................................................................18

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c. Opportunities: ...............................................................................................................19
d. Threats: .........................................................................................................................19
12. Financial Statements Analysis.................................................................................................20
a. Ratio Analysis.....................................................................................................................21
a) Liquidity Ratios...............................................................................................................21
b) Debt Ratio/Financial Leverage Ratio..............................................................................23
c) Profitability Ratio............................................................................................................24
13. Findings: .................................................................................................................................25
14. Suggestions: ............................................................................................................................26
15.Conclusion................................................................................................................................27

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1. Overview of the Organization

WESTERN GLOBAL SERVICES (Pvt) Ltd.(WGSL). We are a group of companies having our

principal registered office in Islamabad with regional offices at Karachi, the port city of Pakistan

and Sukkar, in the interior of Sindh Province. We provide a wide range of services at

project/field sites which includes but is not limited to industrial catering, housekeeping, camp

management, maintenance and allied services, Civil work, Construction, rental power (diesel/gas

generators), fabrication of Portacabins (complete camps) on outright sale or rent and pre-

fabricated steel structure buildings (living and office blocks). We also provide ‘turn-key’ solution

to our clients’ requirements in all the above mentioned areas. We have been in the market for the

last over thirty years and are amongst the leading enterprises in the field, known for our highly

professional skills and reputation for client satisfaction.

Company has successfully completed a number of projects of varied magnitudes and utilities in

Pakistan. We are mainly focused in the field of oil and gas, power sector and different other

projects of national importance. We also have an enviable track record of having rendered

services to a number of multinational oil companies, expat and national, public sector power

units and various other important projects in all the four provinces of Pakistan. Amongst our

clients have been notable multinational oil and gas companies like OMV, MOL Pakistan,

CCDC(formerly Great Wall Drilling Company & OGEC-SPA), United Energy Pakistan Ltd.

(formerly British Petroleum Pakistan), Mari Petroleum Company Ltd., Ocean Petroleum Ltd.-

OPL (formerly OPII), Premier Oil, BHP Bulletin and many more. For the accomplishment of our

time oriented targets, we draw support from our strong infrastructure, trained human resource,

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professional expertise, vibrant operational network, adequate inventory and sound financial back

up.

Further-more, as a result of our persistent exposure to the working of a number of multinational

oil and gas companies, we have been specially tuned to observe strict HSE protocols. We place

special emphasis on Hygiene and Quality for all our product as well as on the safety of all stake

holders. For the compliance of these requirements, we have established a completely

independent, operational HSE department in our Head office and have developed related SOPs

for our different on and off the field activities.

Besides above, our group of companies has ISO 9001 & 22000 certifications with AGS USA.

Company offer services in any of the above mentioned areas which would not only facilitate the

achievement of your goals, effectively and efficiently but will also have a share of our positive

contribution for mutual benefit. Company also wish to establish un-interrupted, long term

business relationship with your company and are confident to come up to your expectations.

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2. Western Services (PVT) Ltd Mission & Vision

a. Our Mission
Our mission is to work in unison as a team in order to provide efficient, integrated quality service

to our customers.

We are fully aware of our prime responsibility which is the satisfaction of our customer needs

well being of our employees, our stake holders, community & environment.

Our company policy will always be customer focused and employee friendly and must facilitate

the smooth flow of business without causing any impediment to the speedy satisfaction of our

customer’s needs and employee’s performance.

b. Our vision
Our vision is to be a team of professionals that serves the global Porta Cabin industry as a leader

and seek innovative and bold new customer services, with guaranteed on time delivery and

unsurpassed quality.

c. Strategy
Company strategy is to achieve leadership in our chosen markets though superior levels of

efficiency and quality of our products. It is focused on three core areas, in which company

committed to excel and to outperform the market.

In short, company identifies this as “our future in practice” benign focused upon:

 Customer And Client Satisfaction

 Market Leadership
 Preferred Employer

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3. Company Marketing

“Word by Mouth”

4. Company Product Line

- Catering and allied Services

- Earth Work
- Portacabins’ Fabrication, Portacabin Installation
- Camp Management
- Transportation
- Fabrication and installation of Pre- Fab Steel Structure Buildings
- Manpower
- Furnished House
- Diesel Generators Civil Work/ Fencing
- Fumigation/Pest Control

5. WESTERN GLOBAL SERVICES (PVT.) LTD.

HEAD OFFICE ORGANIZATIONAL CHART

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 WESTERN GLOBAL SERVICES (PVT.) LTD.

6. Organizational Outlook

Managing Director - Etasham ul Haq

Other Directors - Hamid Zaheer, Abid Zaheer,Azher Iqbal

General Manager - Syed Zulfiqar

Finance Diretor - Hamid Zaheer

Accounts Manager - Muhammad Farooq

HR Manager - Yasir Farooq

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Project Coordinator - Altaf Khan Niazi

Ex- Manager - Robin Sadiq

Established in - 1985

Production range - Wide range of products

Number of office staff - 45

7. Number of Employee of Western Global Services

Permanent 46
Temporary/ On Contractual basis 3456

An employee may be defined as: "A person in the service of another under any contract of hire,

express or implied, oral or written, where the employer has the power or right to control and

direct the employee in the material details of how the work is to be performed." iAn employee

contributes labor and expertise to an endeavor. Employees perform the discrete activity of

economic production. Of the three factors of production, employees usually provide the labour.

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Specifically, an employee is any person hired by an employer to do a specific "job". In most

modern economies, the term employee refers to a specific defined relationship between an

individual and a corporation, which differs from those of customer, or client. The relationship

between Western Global Services (Pvt) Limited. and its employees is usually handled through

the Human Resource Management & Administration Group & Employees benefit disbursement

& trustee division. These groups handle the incorporation of new hires, and the disbursement of

any benefits which the employee may be entitled, or any grievances that employee may have.

There are differing classifications of workers within Western Global Services (Pvt) Limited,

these are:

 Permanent
 Temporary / On Contractual

8. Duties And Responsibilities Of Departmental Heads

a. Finance Manager
He is responsible for financial matters in the organization. He prepares financial plan. He

assesses the financial needs of the organization and sources of the finance. He should be an

expert in the field of financial management. He should know different tools used in the financial

management ratio analysis, fund flow analysis, cash flow analysis, Budgeting etc. All these are

necessary to prepare a sound financial policy for the organization. He is also responsible for

financial planning, raising necessary fund, controlling the use of funds, appropriation of profits

etc. Other functions include financial forecasting and planning, procurement of funds, investment

decision, management of income, management of cash, deciding upon borrowing policy,

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negotiations for new financing, analysis and appraisal of financial performance, advising the top

management, co-coordinating and control, helping in valuation decisions, and tax administration.

b. Accounts Manager

He is responsible for keeping the details of day book, ledger and P.F registers. Moreover, he

should record and maintain all the details of the sales tax calculation and related documents and

produce them on demand.

c. Human Resource Manager

A human resource manager occupies a very important position in an organization. The duty of

the human resource manager is to recruit and develop Personnel required by the organization.

They are involved in manpower planning, training, maintenance, compensation etc. The other

responsibilities of the human resource manager are formulation and development of personnel

policies, employees training and development, transfer, promotion, etc., maintaining personnel

records of each employee in the organization, establishment of good relation with employees,

effective communication of the personnel policies and programmers of the management to

employees, responsible for advising line manager, responsible for welfare activities and

responsible for solving the problem of employees.

d. Purchase Manager

 Duties and responsibilities of the purchase manager are:

 Prepare purchase budget.
 Receive purchase requisition, and ascertain the material requirements.
 Ascertain the sources of supply.
 Invite tenders from the approved suppliers.
 Select the supplier offering the best terms and conditions.

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 Issue purchase order to the supplier selected.

 Follow-up the purchase order to avoid any delay in delivery.
 Receive goods received note and the inspection report.
 Return the material which are not according to specifications or secure adjustment with the

supplier.
 Verify the invoice with regard to quality, price and other relevant particulars and pass it for

payments.
 Send the invoice to the accounting section.

9. Organizational structure of finance department

The finance department of a company is the function in a business responsible for acquiring

funds for the firm, managing funds within the firm, and planning for the expenditure of funds on

various assets. Without a carefully calculated business plan, the firm has little chance for

endurance.

a. Introduction:

The finance department of a company is responsible for all of the financial aspects of a company,

The Finance Department really has two fairly dissimilar jobs to perform in company: managing

the company’s financial resources (“Finance”) and recording and reporting all its financial

transactions.

b. Structure Of Finance Department

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c. . Finance Department

Finance department manages the fund available for the operations of the business, by making a

balance between the fund inflow and fund outflow. The management of all activities related to

finance requires considerable expertise and specialized knowledge of banks, financial

institutions, the different sources of finance and ways to profitability utilize these funds. Finance

Manager directly does the planning, organizing, directing and controlling financial activities in

the society.

d. Company’s Financial Policies:-

 Low cost of operation of funds.

 Efficient receivable management, through acceleration of funds.
 Faster sourcing of funds from institutions.

e. Functions of Finance Department:-

Finance function is concerned with all aspects of business operations. It is very difficult to set

limits to the finance function. The key activities under finance department are:

 Management of firm’s assets structure.

 Financial analysis, planning and control.
 Management of firm’s financial structure.
 Estimating capital requirement.

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 Determining sources of fund.

 Utilization of fund.
 Disposal of surplus.
 Management of cash.
 Financial controls.

f. Accounts Department

Accounts department deals with day to day book keeping, daily collections, salaries of all

employees, etc. Accounts department is headed by chief accountant. He is assisted by four

assistant accountants. In each production centers and marketing branches have an accountant and

cashier which does the daily function at the places

Chief accountant works in coordination with finance manager, on the fund flow issues and

in case of any shortage of cash occurs. Finance manager canalized the shortage from financial

institutions in case of emergency and normal cases, chief accountant tightness the payment

collections from the whole sellers and other sources.

10. Competitors

 Zia & Sons

 Pakistan Hotal

 Ahmed Genrator works

 Zerena Services

 HaQ Holding

 Regent management Services

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11. SWOT Analyses

SWOT analysis is a strategic planning tool used to evaluate the strengths, weakness,

opportunities and threats involved in a project or in a business venture. It involves specifying the

objectives of the business venture or project and identifying the internal and external factors that

are Favorable and unfavorable to achieve the objectives.

a. Strength:

1. The company has a good brand image among the consumers.

2. Products accepted all over the Pakistan for its quality.
3. Global presence in Forgin Company.
4. The company has the direct marketing network with well established distribution system
5. The company has fully computerized departments and production units and corporate

office is connected through intranet.

6. Committed work force guided by technically skilled superiors, maintaining warmness in

relation helps in delivering a combined effect.

7. Stringent quality measures adopted, backed by a strong quality control.
8. Company also certified wit ISO 9001 & 2200.

b. Weakness:

1. Organization in flexibility (Flexible working hours and Policies for flexible working).
2. Limited Offices.
3. Lack of access to the key distribution channels.
4. Advertisements are done through work of mouth only.

c. Opportunities:

1. Western Global Services catering industry is in growth stage so Western Services has a

greater opportunity to grow.

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2. There are large untapped opportunities in Government sector(E.g. Government is giving

subsidies to the farmers for business)..

d. Threats:

1. Sudden fluctuations in crude price, causing fluctuations in raw material price makes

difficult in pricing strategy.

2. Industry is one among those with greater competition.
3. In the changing world of technology, sometimes a better substitute over company may

emerge.
4. All the competitors (Zia & sons, Pakistan Hotal, western, Zerena Services etc.) are

changing their strategies and formulating new ones to capture new markets.

12. Financial Statements Analysis

Financial analysis is a process which involves reclassification and summarization of information

through the establishment of ratios and trends. Financial statement analysis is the process of

examining relationships among financial statement elements and making comparisons with

relevant information. It is a valuable tool used by investors and creditors, financial analysts, and

others in their decision-making processes related to stocks, and other financial instruments. The

goal in analyzing financial statements is to assess past performance and current financial position

and to make predictions about the future performance of a company. Investors who buy stock are

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primarily interested in a company's profitability and their prospects for earning a return on their

investment by receiving dividends and/or increasing the market value of their stock holdings.

Financial analysts, who frequently specialize in following certain industries, routinely assess the

profitability, liquidity, and solvency of companies in order to make recommendations about the

purchase or sale of securities, such as stocks.

The analysis of financial statement refers to the examination of the statements for the purpose of

acquiring additional information regarding the activities of the business. The users of the

financial information often find analysis desirable for the interpretation of the firm’s activities.

The overall objective of financial statement analysis is the examination of a firm’s financial

position and returns in relation to risk. This must be done with a view to forecasting the firm’s

future prospective.

Analysts can obtain useful information by comparing a company's most recent financial

statements with its results in previous years and with the results of other companies in the same

industry. Three primary types of financial statement analysis are commonly known as horizontal

analysis, vertical analysis, and ratio analysis.

a. Ratio Analysis

Ratio analysis enables the analyst to compare items on a single financial statement or to examine

the relationships between items on two financial statements. After calculating ratios for each

year's financial data, the analyst can then examine trends for the company across years. Since

ratios adjust for size, using this analytical tool facilitates intercompany as well as intercompany

comparisons. Ratios are often classified using the following terms: profitability ratios (also

known as operating ratios), liquidity ratios, and solvency ratios. Profitability ratios are gauges of
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the company's operating success for a given period of time. Liquidity ratios are measures of the

short-term ability of the company to pay its debts when they come due and to meet unexpected

needs for cash. Solvency ratios indicate the ability of the company to meet its long-term

obligations on a continuing basis and thus to survive over a long period of time. Financial ratios

allow for comparison:

Between companies
Between industries
Between different time periods for one company
Between a single company and its industry average

a) Liquidity Ratios

The liquidity position of a bank is like a reservoir. It may be adequate, although nearly depleted,

just before the start of the rainy season. Or it may be inadequate, although three quarters full just

before the summer drought.

Liquidity can be defined as:

“The bank’s ability not only to meet possible deposit withdrawals but also to provide for the

legitimate needs of the economy as well”

2013
Liquidity Ratio 2011 2012

Current Ratio
8.2733 0.802 .982

Quick Ratio
7.40 0.743 .845

Current Ratio:

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Current ratio is a financial ratio that measures whether or not a company has enough resources to

pay its debt over the next business cycle (usually 12 months) by comparing firm's current assets

to its current liabilities. Higher the value, then good will is the position of a company in the

market.

In WGSL, the current ratio has a highest value in 2011. It’s mean that over the period of 3 years

from 2011 to 2012, that was the year in which company had a much resources to pay its debts to

the creditors and it was in strong position to pay debts to its creditors. In 2011 company was

running a strong business operation as compared to remaining years.

Quick Ratio:

The quick ratio, sometimes called the acid-test, is a more stringent test of liquidity than the

current ratio. This is because it removes inventory from the equation. Inventory is the least liquid

of all the current assets. A business has to find a buyer if it wants to liquidate inventory, or turn it

into cash. Finding a buyer is not always easy.

In year 2011, company has a highest quick ratio. It means that a company has an enough assets

that can be easily converted into cash to pay its debts to its creditors.

b) Debt Ratio/Financial Leverage Ratio

Debt Ratio 2011 2012 2013

Debt to Asset % .112 .2153 .243

Debt to Equity % 4.730 13.38 14.25

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Debt to Asset Ratio:

This ratio indicates how much proportion of the company's assets is being financed through debt.
For WESTERN SERVICES (PVT) LTD company, this ratio is .543. but in 2012, .21 and 2011, .
112. it mean the company has increase the debt.

Debt to Equity Ratio:

Debt-to-Equity ratio indicates the relationship between the external equities or outsiders funds
and the internal equities or shareholders funds.
In 2013 large part of an equity was financed by debts may be by issuing of bonds, etc.
In 2013, 14.25 capital was through debts and remaining .86 was of shareholders equity.

c) Profitability Ratio

2011 2012 2013

Gross Profit Margin .226 0.222 0.228

Net Profit Margin 0.230 0.296 0.299

Gross Profit Margin:

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Greater the Gross profit Margin, more stable will be the financial condition of a company.
Because if a company has a greater number of this, more easy will be for a company to pay its
taxes and other expenses.
WESTERN SERVICES (PVT) LTD has 0..299 of gross profit margin. So after deducting taxes
and others expenses in 2013 company had large amount of income.

Net Profit Margin:

Net Profit Margin shows how business is effectively earning profit by selling its inventory.
WESTERN SERVICES (PVT) LTD has highest net profit margin in year 2013 mean company
had earned profit in this year higher as compared to previous years.

In relation on investment

2011 2012 2013

Return on Equity 36.94 48.56 49.55

Return on Asset:
Return on Assets (ROA) measures how profitable a company is relative to its total assets. In turn,
it measures how efficiently a company uses its assets.
With the passing of number of years the return on asset of WESTERN SERVICES (PVT) LTD
continues on increasing. It means that company’s asset is profitable to company and they are
good enough to produce profit. Company should invest more to keep asset in working condition
to continue this profit ratio.
13. Findings:

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Western Services is the number one Porta Cabin manufacturer in Pakistan and it has received the

many awards for quality. They also receive the ISO 9001 certification.

 International Standard that is being followed as far as the quality of the products is

concerned.
 Has well trained employees to operate the company.
 Provides excellent services to its employees like canteen, medical facilities,

transportation etc.
 Premises are huge and designed in such a way that the raw materials can easily

transferred from one department to another.

 Safety is given main preference.
 Discipline is being followed.
 Pollution level is zero.
 Quality of the products is assured by doing nine different quality tests.
 Everyday feedbacks are taken.
 Excellent training and development system.
 Employee performance appraisal system.
 No discrimination for race, religion, decision making and actions.

14. Suggestions:

 Problems can be detected early and treated to prevent deterioration welfare and cost

reduction.
 Annual medical checkup for all workmen and employees. A small amount can be

deducted from the salary one time.

 Cleanliness and orderliness has to be further improved.
 Improve security measures by using electronic devices at all gates.
 Advertisement need improvement (currently advertisements is done through word of

mouth only, need to be done in visual media also).

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15. Conclusion

The study conducted and internship at Western Global Services (PVT) Limited which is the

pioneer and market leader in the Catering services, PortaCabin,Camp management in Pakistan

helped in getting a wider outlook about the business environment and managing an organization.

Organization has six production centers and five marketing branches spread all over Pakistan,

with operation Afghanistan.

It was a general study regarding all functions and aspects of WGSL. The company has seven

functional departments through which it was operating. It is found that company has a good

working environment and cordial relationship is maintained between all departments for the

smooth functioning and achievement of the organization goal of maintain the company’s brand

image among the customers. I analyze the threat of the entry of new competitors and substitute

products or services, the bargaining power of the customers and the suppliers and the intensity of

competitive rivalry. SWOT analysis is also done to analyze the Strength, Weakness,

Opportunities and Threats of the organization.

WGSL has made are of most advance technology, Method and up to date knowledge. Fully

automated production has been put to use long time ago U.S made microprocessor controlled

machinery is used to for production. WGSL received the ISO 9001 certification for quality by

DAS, USA, and ISO 9001, 2200 certification. In order to later the complete needs the company

is planning to increase the production level to maximum extent possible. The research and

development team of WSL group is engrossed in developing new Services for the international

markets. This has helped them to gain valuable insights that prompt the group to search

alternative ways for better services.

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