UNIDO Senegal: Training on financial and accounting management

COLEACP organised a training session on the theme of “Accounting, determination of operating costs and decision support tools”. The activity took place within the framework of the INOE 2000 project, in partnership with UNIDO.

Access to new markets requires a precise profitability analysis to evaluate the costs of compliance with new market requirements. In previous training courses, it has been noted that the profitability of a company is often not estimated sufficiently accurately. An incorrect estimation of the cost of products becomes an obstacle to the conclusion of contracts with new customers.

This training, developed for company managers and executives in charge of financial and accounting management within companies, aimed to enable participants to:

• know the different methods of recording data to evaluate profitability;
• understand the importance of equipment depreciation and how it is calculated;
• know all the indirect costs of the company;
• determine the cost price of a product;
• establish the operating account of a product and a company;
• calculate the break-even point; and
• understand the importance of setting up an efficient management system to ensure the profitability of the company.

This activity, implemented by COLEACP and supported by the United Nations Industrial Development Organization (UNIDO), contributes to the project “Inclusive and sustainable industrial development for employment creation in Senegal and Ethiopia”.