DEPARTMENT OF ACCOUNTING AND AUDIT
Businesses are planning their future activities and determine the current financial position based on accounting records. Companies can determine their current status with this information, as well as identify future investment decisions. Accounting is not only a system of responsibilities towards the state, but also a tool that plays an important role in the company's development perspective. Companies can build reports that can give positive direction to decisions of key corporate units, such as marketing, production and finance, with a solid accounting system.
The information provided by accounting records is important for both domestic and external users. The information and reports provided by accounting in international practice are also accepted as the company's economic activity language. It provides international accounting standards for assessment and understanding of the language at one level. Financial reports prepared in accordance with international accounting standards provide an opportunity for any organization in the world to obtain sound information.
Auditor activities are one of the types of entrepreneurial activity. It is engaged in the independent verification of accounting and financial reporting of economic entities. The main purpose of the auditor's activity is to ensure the reliability of financial and accounting records, as well as to check whether various financial and economic transactions are in compliance with current legislation. Highly qualified auditors should know both the local and western accounting systems - the GAAP (Generally Accepted Accounting Principles).
Purpose of the department
• Provide students with an understanding of international accounting and auditing
• Organization of financial management in companies, medium and long term assumptions in planning financial statements, profit planning and control, cash management knowledge.
• Provide knowledge and skills on business accounting and key principles, key financial statements, bilateral accounting, asset, liability and capital understanding and registration.
As a result, students gain the following knowledge:
• Analyzing and solving problems that arise in enterprise management
• Advanced level accounting concept
• Advanced level audit concept
• Failure to maintain accounting in enterprises
• Can not find solutions to the problems that arise in company activities by adopting new management methods
• Ability to make investment, financing, and profit distribution decisions
• Ability to prepare key financial statements
• Professional approach to issues
Activity directions of the department
The scientific activity directions of the department are as follows.
• International Accounting Standards and National Accounting Practice Problems
• Actual problems of management accounting
4. Academic staff of the department.
5. The site must come from an automated information system.
6. External relations of the department.
The Baku Engineering University and CIMA are part-time partners since 2017 and the graduate of this specialty is exempted from up to 6 CIMA exams. Additionally, the development program was developed in full compliance with the ACCA program.
The role of the department in the career and internship of students
Undergraduate students have the opportunity to work locally and internationally, as students are trained in accordance with international accounting standards and curriculum-based curricula. The curriculum includes 14 weeks of experience.
Material and technical basis of the department (laboratories)
Financial and Accounting Laboratory has the necessary books and material base to obtain ACCA, CIMA, and ACCA certification.