UNEC – Azərbaycan Dövlət İqtisad Universiteti

FINANCE AND AUDIT

CHAIRS

Head of Department Dr of Econ., Prof. Avaz Alakbarov Akbar

Telephone: +(994) 12 492-59-13; +(994) 12 492-40-04; 18-46 (daxili: 1100)
e-mail: [email protected]

News of the “Finance and financial institutions” department in UNEC NEWS (2015 – 2018)

About the Department

By the decision of the Scientific Council of UNEC on September 16, 2022, the departments of “Finance and financial institutions” and “Finance and Accounting” were merged and the department of “Finance and Audit” was established.

Some years ago according to the decision of the Scientific Council of Azerbaijan State University of Economics dated 25.12.2015, for the purpose of effective management and organization of teaching at the university, the “Finance”, “Banking”, “Taxation and Taxation” chairs were cancelled from 02.03.2016 and the department of “Finance and financial institutions” was established in the base of departments.

The head of the department is the ex-minister of finance of Azerbaijan, a well-known socio-political statesman, doctor of economic sciences, professor Avaz Akbar oglu Alakbarov.

The main specialty department of “Finance and Audit” of the Finance and Accounting Faculty of Azerbaijan State University of Economics has great scientific potential.

The main specialty “Finance and Audit” department of the Finance and Accounting faculty of Azerbaijan State University of Economics has great scientific potential. Currently, 10 doctors of sciences, 29candidates of sciences, 8 senior lecturers and 4 instructors work in the department.

In order to develop the potential of higher-quality scientific staff, 7 doctoral students on the program of Doctor of Sciences in Economics, 43 ones on the program of Doctor of Philosophy work both in forms of full-time and part-time.

High scientific conditions are created in the department for the preparation of Doctor of Philosophy and Doctor of Science theses on relevant topics in the specialty 5301.01 – “Domestic fiscal policy and state finance” by providing scientific guidance. The dissertations defended in recent times are mainly devoted to scientific topics related to the implementation of the “Strategic Road Map”. Doctoral students and students for a degree periodically pass the annual attestation and report to the faculty of the department. By the order of the Higher Attestation Commission under the President of the Republic of Azerbaijan, the professors of the department were appointed members of the specialized defence council created under the ASEU for the specialty 5301.01 – “Domestic fiscal policy and state finance”.

At the same time, the department fully and comprehensively realizes its services at the master’s level of education in selecting scientific subjects and guiding them scientifically. By the order of the Minister of Science and Education of the Republic of Azerbaijan, professors and assistant professors of the department participate in the defence of master’s dissertations held every year at the master’s level of higher education on 060403 “Finance” major in the specializations “Banking”, “Financial management ”, “Financial markets”, “Taxation and taxation”, “Organization of insurance work”, “Financial control and audit” .

The “Finance” laboratory operating under the department successfully implements the work of connecting the scientific and theoretical potential of the department with practice.

In the “Finance and Audit” department, economic specialists are trained on the 050406 Finance and 050409 Accounting specialties at the undergraduate level of higher education, approved by the decision of the Cabinet of Ministers of the Republic of Azerbaijan No. 45 dated February 11, 2019.

Subjects taught at the department on majors:

FINANCE

Corporate finance
Financial markets
Behavioral finance
Financial risk management
Public finance
Investment management
Taxation
Financial management
Banking
Options and futures
Fixed income securities and derivative financial instruments
Entrepreneurial finance and venture capital
Budget system
Insurance
Management of state revenues and expenses
Budget and treasury accounting
Mergers, acquisitions and private equity

ON ACCOUNTHING

Financial Accounting
Account management
Financial accountability
Cost management
Risk and control
Accounting software
Accounting of foreign economic activity
Audit
Financial analysis
Management analysis
Tax reporting
Effective management of activity
Tax audit
Analysis of financial statements
Financial report

In order to improve the quality of teaching, many measures are implemented in the department: open classes of professors and teaching staff are organized, conditions are created for young teachers to gain experience and they can participate in the classes of experienced, leading teachers of the department. In order to ensure quality and transparency in the structure, a special supervisory commission consisting of experienced teachers was established in the “Finance and Audit” department. The members of the commission participate in the lessons of young personnel in order to monitor their lessons and increase their experience, and give valuable advice to those teachers to eliminate the shortcomings left in the educational process. In addition to budget-oriented scientific-research works, the “Finance and Audit” department also performs economic scientific research work on the basis of a contract and hands it over to client organizations. The department signed an agreement with the company “Tekrarsıghorta of the Republic of Azerbaijan” on “Priority of increasing the resource potential of the insurance market in the regulation of the diversification process of the national economy”. Furthermore, a contract was signed with “Azeravtoyolservis” company on “Management of investments aimed at maintenance and development of highways”, “Improvement of deposit insurance work” and “Modern directions of credit portfolio diversification” with “Xalq Bank” OJSC.

According to the results of those projects, appropriate grants were received, a part of which was transferred to tax and social insurance, and then directed to the current work of the University and rewarding employees.

In recent years, the department’s employees have published textbooks, teaching aids, monographs, methodical instructions, articles, theses, booklets and translation works on Finance. Among the published works textbooks and teaching aids like “Tax control”, “Finance”, “Problems of state and municipal finance”, “Corporate finance”, “International finance, credit and currency relations”, “Fundamentals of insurance activity”, “Fundamentals of finance”, “Money and banks”, “Insurance”, “Fundamentals of insurance”, etc. can be shown.

The teaching-methodical materials prepared by the faculty of the department on the specialty of Accounting are of great importance. Prof. S.M. Sabzaliyev’s book “Explanatory dictionary of international and national accounting terms” published in 2010, textbook “Financial reporting” (2018), prof. G. A. Abbasov’s textbook “Accounting theory” (2009), “Accounting and Audit” textbook , “Audit” textbook by Prof. R.N. Kazimov, “Audit” textbook by Prof. F. Sh. Hajiyev (2019), “Management Analysis” textbook by Prof. H.A. Jafarli (2018), the teaching-methodical resource of the subject “International standards of financial reporting” prepared by prof. S.M.Sabzaliyev, assoc.professor V.M.Quliyev, assoc.professor. A.S.Salahov, PhD in Economics, senior lecturer N.M.Musayeva. should be noted. The monographs prepared by the staff of the department in recent years are as follows: Financial reporting: problems of formation and improvement, 2003, 16.0 hr. (S.M. Sabzaliyev); Explanatory dictionary of international and national accounting terms, 2010, 16.0 p.p. (S.M. Sabzaliyev); Problems of management accounting and analysis in oil and drilling industry, 2008, 17.3 p.p. (S.M. Gasimov); Principles of organization of management accounting, 2009, 18.0 p.p. (G.A. Abbasov) «Dividend policy: optimization issues» “Current issues of financial policy and development of the monetary and credit system”, 2018, (N.M. Ismayilov) etc. The monograph “International standards of financial reporting” written by English scientists D. Alexander, Anne Britton and others was translated and published in the highest polygraphic style in 2009. This book is the most prestigious work published on the national scale in the direction of the conceptual basis of the International Standards of Financial Reporting.

The most experienced teachers in the field are selected to lead the production experience in the department. Extensive explanation work is carried out with the students who have passed the production internship, and the ways of effective use in the production internship are determined. In addition, the teachers who are in the production experience facilities from time to time are directly involved in drawing up the agenda related to the daily learning experience, writing the reports, and teaching the students the rules of using the documents in depth. Practice supervisors work according to a special schedule, and the department strictly monitors compliance with that schedule. All students are familiarized with the Regulation on the conduct of industrial practices.

At the request of the students, the department creates conditions for conducting production internship in the banks of foreign countries: St. Petersburg Foreign Trade Bank, Polotsk Commercial Bank. The activity of the Student Scientific Association is always in the center of attention of the department management. Students are supported in choosing topics and in constant contact with the academic supervisor.

Employees of the department actively participate in the social and political life of the University, so the head of the department, Doctor of Economic Sciences, prof. A. A. Alakbarov is the chairman of the Presidium of the “Professors Club”. At international conferences, scientific symposia, social and political events, the collective is constantly distinguished by its activity. From a professional point of view, the department constantly establish business relations with the Ministry of Economy, the Ministry of Finance, the Ministry of Taxes, the Central Bank, the Capital Bank, the International Bank, the National Confederation of Entrepreneurs (Employers) Organizations and other institutions. “Tax Olympics” and many joint scientific-practical events of a training nature are carried out.

Employees of the “Finance and Audit” department are preparing prospective plans to further expand their activities:

To improve the quality and transparency of teaching, to organize student-teacher relations at the level of modern requirements;

Carrying out work in the direction of constantly raising the professional and scientific levels of employees;
Publication of articles in international indexed journals;
To actively participate in international and national scientific-practical events;
Preparation and translation of new textbooks and teaching aids;

The employees of the department will work diligently to fulfil the tasks assigned to the department on time and in accordance with the required standards and to achieve higher results in their scientific and pedagogical activities. The professors of the department periodically hold lectures in universities of foreign countries and present Azerbaijani economic science to the world education system.

Employees of the “Finance and Audit” department have been awarded various levels of prizes and awards for their effective scientific and pedagogical activities at the University. The main goal of the department is to prepare modern analysts and auditors who have relevant knowledge and the ability to effectively apply this knowledge in the field of the formation and implementation of different levels of strategies, as well as the development of necessary mechanisms for the stable social development of the country, regions and enterprises, and the implementation of technologies, meeting the increasing demand of the Azerbaijani society in this direction.

The Academic staff:

On Finance

Dr of Econ., Prof. Avaz Akbar Alakbarov (Head of the chair) (0.5)
Dr of Econ., Prof. Sadigov Elnur Mahammad
Dr of Econ.,Prof. Miralam Khasi Hasanli
Dr of Econ., Prof. Nizami Najafgulu Khudiyev
Dr of Econ., Prof. Baghirov Mubariz Mammadhuseyn
Dr of Econ., Prof. Zahid Farrukh Mammadov (0.5) (director DOMSA)
Cand. of Econ., Assoc. Prof. Gurbanova Tunzala Tofig (head of specialty)
Cand.of Econ., Assoc. Prof. Ibrahimov Zohrab Hasan
Cand. of Econ., Assoc. Prof. Garayev Azer Islam (0.5) (Dep. Direc. of the Fac. of Finance and Accounting)
Cand.of Econ., Assoc. Prof. Kashiyeva Flora Shamil
PhD in Econ., Assoc. Prof. Pashayev Zohrab Shahin
Cand. of Econ., Assoc. Prof. Mehdiyeva Leyla Tofig
Cand. of Econ., Assoc. Prof. Gurbanov Bayramali Shukur
Cand.of Econ., Assoc. Prof. Mammadova Gulsum Mirdamat
PhD in Econ., Assoc. Prof. Mammadova Gultakin Gabil
PhD in Econ. Assoc. Prof.Aliyeva Tahmina Tahir
hD in Econ., Assoc. Prof. Zeynalov Zakir Haji (0.5)
Cand. of Econ., Assoc. Prof. Samadzade Elshad Ziyad (0.5)
PhD in Econ. S/lector.Huseynova Alida Teymur
PhD in Econ. s/lector.Hekimova Yegana Allahyar
lector. Alijanova Shahla Musa
Head teacher Babayev Nusrat Salman
S/t. Hemisheyeva Shefa Uzeyir (0.5)
S/t. Aliyev Navai Shakhlar [D/Director of the TMC](0.5)
lector.Huseynova Sevinj Khanhuseyn
lector/ Qarakhanova Ulkar Tofiq
Guluzade Esmira Mammad

On accounting