Senegalese accountants let’s get out of the beaten path to upgrade or perish…

Senegalese accountants let’s get out of the beaten path to upgrade or perish…

It will be time for the Senegalese accounting executives to come out of the box and get out a bit of the archaism of the accounting logic of the historical cost and basic accounting practice that exists in our Senegalese companies.

The time for the future for them is:

  • the analysis of sectoral data and key indicators (mastering the key ratios and indicators of its trade) in the sectors in which their enterprises operate;
  • Analysis of financial and accounting information (the financialisation of accounting is at the rendezvous and remains an irreversible process) in a precise, pointed and pragmatic way; This is available to their management teams for a better position; 
  • The appropriation to the digital transition (Big data: Cloud, the whole digital, the production of useful dashboards, databases, GOL, electronic archiving) with a goal to help a better decision-making management (tools for decision support).

Coaching a team of accountants and managing the daily, must not be their panacea. It is up to them to get rid of the dogmas and participate in the real life of their company. 

A quick survey during my field experience has always revealed that accounting teams often feel less Considered that certain other functions in the company, that they are not Respected or taken into consideration. But there ‘A T-he had a true introspection linked to this state of fact, I remain convinced that not.

The accountants refer the image to be austere, unopen-minded and not responsible enough, nor pro active on decision-making or interpretations on the strategic evolution of the company… 

It is not uncommon to note when recruiting DAF in certain organizational structures, that these positions escape them for the benefit of ex auditors/EX supervisors/Financial analysts, on the pretext that the latter are more flexible and more able to hold these functions.

It is up to them to take their responsibilities and strengthen themselves in managerial and financial capacities, to live up to the expectations of what this trade will demand in the years to come, with the coming of the Anglo-Saxon approach which is going to rub off in Our OHADA Accounting law (Implementation of the Uniform Act on Accounting Law and financial information which will come into force on 01 January 2018).

Deadline for payment of the balance of Corporation tax - Income tax scheduled for June 15, 2018 Tax optimization: Tips for paying less corporate tax before April 30th