The Faculty of Finance and Accounting is established in September 2015 as a result of combining two faculties Finance and Accounting.
Finance. This faculty is coeval with the University of Economics. Starting to perform in the structure of Azerbaijan Institute of Trade and Cooperation the Faculty of Finance operated under the titles of Finance-credit, Finance- economics and Finance-statistics within different years. The Institute of Finance was established and operated a short period of time on the basis of the faculty in 1932. However, the Institute of Finance was also combined with Azerbaijan Institute of Trade and Cooperation beside a series of small institutes (Planning- economics, Socialist accounting, Soviet building and legislation) and performed as the Social-economic Institute in January 1933. The Institute of Finance was included in the structure of Socio- Economic Institute as the Faculty of Finance-credit. As a whole not taken into account this faculty’s existence in the content of ASU in 1941-1945 and 1959-1965 it was an integral part of the University of Economics. In some periods of time (e.g. in 1941) the specialty Accounting was taught in the content of the faculty of Finance.
After combining with ASU in 1959 the majors Finance and Credit were developed at the Faculty of Economy.
The faculty started to perform as Finance and Statistics again when AINE was restored in 1966 and was named the faculty of Finance-credit as a result of combination with the faculty of Accounting of the major Statistics.
Beginning from 1966 the faculty was led by Professor A.M.Garaveliyev (1966-1970), Assistant Professor R.A.Mustafayev (1970-1974), Assistant Professor A.J.Mammadov, Assistant Professor R.M.Rzayev (1977-1982), Professor A.H.Akhundov (1982), Assistant Professor R.A.Bashirov (1982-1987, 1995-2000, 2009-2010), Assistant Professor Sh.Badalov (1987-1995, 2000-2005), Dr of Economy, Prof. D.A.Baghirov (2005-2009), Assistant Prof. Z.I.Ibrahimov (2014-2015).
Divided into two parts within the structural changes in November 2004 the faculty of Finance and Credit became the education units operating independently as the Faculty of Finance and the Faculty of Credit-economics.
Professionals majored in Finance-Credit, Industrial Finance, Economic Theory and Organization of Customs are being developed in the faculty.
The faculty is in close relation with the Ministry of Finance, National Bank, Joint-stock Universal Bank and Ministry of Taxes. 4 specialized lecture-rooms were established for the faculty with the initiative and efforts of the university administration, as well as assistance of the Ministry of Finance, Central Bank, International Bank and Ministry of Taxes.
International relations were always of great importance at the faculty. Even in 1982-1987 professionals for Cuba, Laos, Kampuciya, Vietnam, North Korea, Mongolia and others were prepared at the faculty. Currently, broad scientific and educational relations are kept with Turkey, Ukraine and Russian Federation.
Accounting economics. Development of cadres in Accounting was performed in different years in predecessors of the University of Economics at the Institute of Socialist Accounting, Azerbaijan Institute of Trade and Cooperation, Social-Economic Institute, AINE, ASU, Baku branch of MIEL and other higher education institutions. Currently the biggest higher education institution developing cadres in accounting is the University of Economics. There were always great demand forv the major of accounting and it is further increased nowadays in condition of liberal economy.
The independent Faculty of Economics was established in the content of ASU named after S.M.Kirov on basis of this institute after abolishing AINE named after K.Marx. Approximately the half of the student contingent of that period was majoring in Accounting. The Faculty of Economics was led by Professor A.R.Gasimov those years.
In the 2024/2025 academic year, 523 students were admitted to the faculty, of which 28 students scored 600 and above. The highest result in the entrance exams for the 2024/2025 academic year was 674.80 points. 14 of the students admitted to the faculty are foreign citizens.
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One of the biggest faculties of AINE became the Faculty of Accounting when it was established again on objective necessity in 1966. The Faculty was led by Assistant Professor L.Ahmadov, Assistant Professor N.Adigozalov, Assistant Professor A.Jafarov, Assistant Professor F.Guliyev, Assistant Professor T.Babayev, Assistant Professor N.M.Ismayilov and in a short period of time Professor G.Rzayev and Assistant Professor J.Zarbaliyev.
Previously cadres in Accounting were developed in 6 directions, but then in 3: Accounting in Industry, Accounting in Agriculture and Accounting in Trade.
Establishing the BB of MIEL after the abolishing AINE, the specialty of statistics was included into the Faculty of Accounting in 1987.
It should be noted that the majoring of cadres in Accounting and Audit, Statistics and the System of National Statements in the Republic of Azerbaijan are undertaken only here in our country. The development of cadres in two directions (“Accounting and Audit” and “Statistics”) started at the Faculty of Accounting in accordance with the classification of new economist cadres by the Presidential Decree of the Republic of Azerbaijan and the Cabinet of Ministers beginning from 2009 and the curricula were created in this direction.
To the faculty of “Finance and Accounting” from 2021 i.e.n., dos. Hajiyev is headed by Hafis Ahmad oglu.
At present, the faculty has two deputy deans: Deputy dean for Scientific Affairs, Associate Professor, Azer Islam oglu Garayev, Deputy Dean for Academic Affairs, PhD in Economics Abdulkarim Akbar oglu Sadigov.
In order to organize administrative activities at the faculty of Finance and Accounting, the Scientific Secretariat of the faculty was established in 2017. The Scientific Secretariat is the executive structural unit of the faculty and is headed by the Scientific Secretary.
From its establishment (31.03.2017) until January 2020, the Scientific Secretariat of the Faculty has been headed by Murad Niyaz oglu Alakbarov. Since January 2020, the Scientific Secretariat of the faculty has been headed by Kamala Rafael gizi Hamidova.
At present, 1649 students study at the faculty of Finance and Accounting. 992 of them are majored in “Finance”, 657 people are majored in “Accounting and Auditing”.
533 students were admitted to the “Finance and Accounting” faculty in the 2019/2020 academic year, 106 of them are students who scored more than 600 points. 304 of these students chose the specialty “Finance”, 229 chose the specialty “Accounting and Auditing”.
Currently, the faculty of “Finance and Accounting” has 74 faculty members. 15 of them (21.4%) are doctors of sciences, professors, 36 (48.0%) are candidates of sciences, associate professors, 10 (13.3%) are doctors of philosophy, and 13 (17.3%) are teachers without scientific degrees. 82.7% of the teaching staff have scientific degrees.
Major disciplines such as History of Accounting, Theory of Accounting, Accounting (Finance), Management Accountants, Financial Statement, Control and Audit, Theory of Economic Analysis, Economic (Financial) Analysis, Management Analysis, Analysis of Financial Statements, Basis of Audit, Practical Audit, History of Statistics, Statistic Theory, Social Statistics, Enterprise Statistics, National Statements System, Financial and Bank Statistics, Demography based Population Statistics, Transport and Communication Statistics, Protection of Environment Statistics, Multivariate Statistical Methods and Statistical Analysis of Family Budgets are taught at the faculty.
The alumni of the faculty are usually serving in the appropriate units of state bodies, organizations and companies despite of their organizational and legal public necessity, foreign investment enterprises, small household objects, companies and other business entities engaged in foreign economic activity, private commercial organizations performing as manufacturing and non-manufacturing sector, organizations performing budget- tax and finance- credit policy of the country and relevant units, financial departments of different educational institutions and the departments suitable with professional qualifications.
Disciplines taught in Finance allow students to gain the theoretical knowledge required to specialize in both public finance (tax administrator, financial auditor) and private sector financier (insurance specialist, bank specialist, financial manager). The specialty department is “Finance and Financial Institutions” department.
The syllabi of the subjects taught in the specialty “Accounting and Auditing” have been adapted to the curricula of international professional qualifications (ACCA, CIMA). This allows students to gain the knowledge and skills required to work as an accountant in both government and private sector businesses. The specialty department of the mentioned specialty is the department of “Accounting and Auditing”.