Department of Accounting and finance


Department of Accounting and finance

The world continues to be in financial turmoil and this underlines the need for companies and other organizations to be able to report accurately, analyze, understand and take action to navigate through this ‘sea of troubles’. An accounting and finance degree provides the academic grounding, knowledge, and ability to help you prepare for a career that provides challenge, excitement, and reward. It will show how reporting and analysis help to make sense of the turmoil and will give you knowledge of the tools and methodologies that allow you to take action and manage the risks.

About the department:

The modern field was established since 2012 According to the MHE official letter Issued No (854) date (19 / 7 / 2012) and started to register students since (2012 – 2013), accounting and finance department will hopefully graduate the first class of students by the end of the academic year (2017-2018).
Utilize a best practice model for a documented and sustainable knowledge base for the University’s financial accounting and controls systems, positively affect and retain students through financial awareness, education, understanding and connection to appropriate resources. We believe that clients are best served by a search and placement firm specifically focused on accounting and finance. We help the student find the candidate with the right experience, qualifications, and personality for their business.

Message

The college offers specialized programs in Accounting and Finance at Undergraduate, Graduate. We emphasize the in-depth teaching of each course to prepare our students to compete with professional accountants. Students are provided the overview of what is happening in the practical corporate world in the areas of study so that they get better prepared to face the challenges of the practical world.

Objectives

  1. Create an environment which focuses on students as individuals and provides opportunities for students to develop the professional skills necessary for career development.
  2. Prepare budgets accurately and in a timely manner in alignment with the university’s strategic plan and monitor the budgets to ensure that the plan is carried out.
  3. Offer undergraduate and graduate curricula that develop the technical competencies necessary for entry-level positions in public accounting and finance with corporations, government, and non-profit organizations.
  4. Implement programs that will increase the enrolment of outstanding graduate and undergraduate students.
  5. Provide stewardship and accountability for institutional assets and ensure that all financial resources are received and invested.
  6. Administer the capital outlay, capital maintenance, and real property programs.
  7. Procure goods and services necessary for the university’s operations and pay the university’s obligations.
  8. Provide accurate and timely financial information.
  9. Applying auditing concepts to evaluate the conformity of financial statements with appropriate auditing standards.
  10. Service to the community and to the accounting profession
  11. Preparing financial statements in accordance with appropriate standards.
  12. Preparing accounting information for planning and control and for the evaluation of products, projects, and divisions.

Program Learning Outcomes

  1. Designing and editing accounting system.
  2. Compose a chart of accounts.
  3. Keep accounting books and records.
  4. Manage financial information in order to determine business strategy and policy.
  5. Design costing systems.
  6. Compile budgets and reports both for business and public sector entities.
  7. Plan and implement internal and external audit practices.
  8. complete postgraduate studies in accounting fields.
  9. Supervising of managing accounting system.

Graduates

Graduates should be able to demonstrate good knowledge of theories, principles, and practices related to the field of Accounting and Finance in public and private sectors.

Career Opportunities:

  1. Work with tax returns, deductions, credits, financial records, and other filing deadlines; Experience with Microsoft Office.
  2. Maintain, process and reconcile payroll.
  3. Make numerous daily computations to update and maintain accounting records.
  4. Analyze financial information, assemble spreadsheets, charts, graphs and interpret data.
  5. Reconcile statements and transactions, collect revenue, pay invoices; Experience with Microsoft Office.
  6. Prepare work-papers for financial statements, audit engagements and provide analysis of account balances, document findings; Degree in Accounting.
  7. Prepare invoices, bank reconciliations, journal entries, general ledger, financial reporting.
  8. Process bills, communication with customers regarding billing issues and questions; Experience with Microsoft Office.
  9. Outbound collection calls; Experience with Microsoft Office.
  10. Prepare invoices, bank reconciliations, journal entries, general ledger, financial reporting.

Why accounting and finance?

Accounting is an important part of every business and industry around the world. Successful accountants possess interpersonal, communication and problem-solving skills. Accountants must also bring a broad perspective and special accounting knowledge to the job.

Reasons:

  1. organizational culture and its importance.
  2. Accounting offers what many of us start to crave after spending years living as a struggling student: a dependable career.
  3. Accountants work in all kinds of places – you might find a few of them in within local, provincial.
  4. They can be leaders in financial recording and reporting and in planning and analysis. They can help to determine which practices and strategies survive, and which do not. (In both of Private and public organizations).
  5. Changes in technology and regulation mean that the accounting industry is constantly evolving.
  6. Whether they’re clients, co-workers, bosses, mentors or people you meet by chance at a random event, your accounting career will bring you touch in with people from a diverse range of backgrounds.
  7. As a professional within the field, you’ll likely need to stay up-to-date on best practices to be successful.

Objectives of the educational program

  1. Being able to present, discuss, and defend financial decisions by using appropriate terminology.
  2. Provide accurate and timely financial information.
  3. Develop and maintain the official administrative management and financial accounting systems and records and the related systems of internal controls for the university in accordance with generally accepted accounting principles and consistent with requirements.
  4. Collect fees and other funds owed to the university in an accurate and timely manner.
  5. Administer the capital outlay, capital maintenance, and real property programs.
  6. Prepare budgets accurately and in a timely manner in alignment with the university’s strategic plan and monitor the budgets to ensure that the plan is carried out.
  7. To finance professionals through the development of interpersonal and teamwork skills.
  8. Maintenance of internal control procedures such as Financial Regulations, checking routines
  9. An appreciation for socially responsible actions with respect to financial decisions.
  10. Research investigation in the accounting field.

Professional skills

  1. Prepare strategic plans and formulate financial policies.
  2. Prepare plans and programs to implement strategic plans.
  3. Preparing marketing feasibility studies.
  4. Design of organizational structures including the financial mechanism.
  5. Developing strategic financial policy concepts.
  6. Design and development of organizational structures.
  7. Design and management of financial information systems.
  8. Market analysis and project evaluation.
  9. Practical application of modern scientific systems and methods.
  10. Preparation of accounting lists and plans.

Mental skills:

  1. Linking environmental variables and decision-making patterns.
  2. Preparing strategies and testing different models.
  3. Innovative and creative thinking against financial problems.

Education and learning standards:

  1. The learning standards will not prescribe either the design among finance programs or how learning outcomes will be assessed.
    Identify the cognitive and skill levels of what a learner should possess.
  2. Exercise judgment, under minimal guidance, to apply financial solutions using ethical, social, regulatory, economic, sustainability and global perspectives.
  3. Standards related to students: Acceptance and selection of the ratio of students to teachers, an average cost per person, services provided to students, and motivation.
  4. Standards related to teachers: The size of the teaching staff and their professional culture, respect and appreciation of teachers for their students.
  5. Curriculum-related standards: Curriculum, quality, content, teaching, and method.
  6. Financial standards: The University building and its ability to achieve the objectives and the extent to which students benefit from facilities
  7. such as a library, hardware, and tools, sports venues, cultural activities.
  8. University and community standards: The needs of the surrounding community and participation in solving its problems.
  9. Linking disciplines to the nature of society: Interaction between the University with its human and intellectual resources.
    Educational administration standards: The commitment of educational leaders to quality and the decentralization of powers.

Curriculum Study: The curriculum is distributed as follows:

Department of Accounting/Course program

First Year (First Semester)

  • Principles of Accounting l
  • Computer Skills I
  • Principles of Statistics
  • Principles of Economics I
  • Principles of Management I
  • English Language I
  • Kurdology I
  • Scientific Debate

First Year (Second Semester)

  • Principles of Accounting II
  • Computer Skills II
  • Applied Statistics
  • English Language II
  • Principles of Economics II
  • Principles of Business Management II
  • Kurdology II
  • Scientific Debate

Second Year (First Semester)

  • Intermediate Accounting I
  • Governmental Accounting I
  • Commercial Law
  • Money and Banking
  • Quantitative Methods
  • English For Accounting I
  • Financial Mathematics

Second Year (Second Semester)

  • Intermediate Accounting II
  • Governmental Accounting II
  • Principles of Marketing & E-commerce
  • Operations Research
  • English For Accounting II
  • Public Finance

Third Year (First Semester)

  • Cost Accounting
  • Advanced Financial Accounting I
  • Accounting (Banks and Insurance)
  • Unified Accounting system I
  • Accounting Software Packages I
  • Tax Accounting
  • Financial Management

Third Year (Second Semester)

  • Advanced Cost Accounting
  • Advanced Financial Accounting II
  • Accounting For Islamic Banks
  • Unified Accounting System II
  • Accounting Software Packages II
  • Financial Statement Analysis
  • Scientific Research Methods

Fourth Year (First Semester)

  • Accounting Theory I
  • International Accounting
  • Auditing I
  • Managerial Accounting I
  • Accounting Information Systems

Fourth Year (Second Semester)

  • Accounting Theory II
  • Auditing II
  • Managerial Accounting II
  • Specialized Accounting Oil and Agriculture
  • Financial Markets
  • Project Research

Thus, the curriculum becomes distributed as follows:

1- University requirements:

  • Computer Skills I
  • English Language I
  • Kurdology I
  • Computer Skills II
  • English Language II
  • Kurdology II
  • Scientific Debate

2- College requirements

  • Principles of Accounting l
  • Principles of Statistics
  • Principles of Economics I
  • Principles of Management I
  • Principles of Accounting II
  • Applied Statistics
  • Principles of Economics II
  • Principles of Business Management II
  • Commercial Law
  • Financial Mathematics

3- Department requirements

  • Intermediate Accounting I
  • Governmental Accounting I
  • Money and Banking
  • Quantitative Methods
  • English For Accounting I
  • Intermediate Accounting II
  • Governmental Accounting II
  • Principles of Marketing & E-commerce
  • Operations Research
  • English For Accounting II
  • Public Finance
  • Cost Accounting
  • Advanced Financial Accounting I
  • Accounting (Banks and Insurance)
  • Unified Accounting system I
  • Accounting Software Packages I
  • Tax Accounting
  • Financial Management
  • Advanced Cost Accounting
  • Advanced Financial Accounting II
  • Accounting For Islamic Banks
  • Unified Accounting System II
  • Accounting Software Packages II
  • Financial Statement Analysis
  • Scientific Research Methods
  • Accounting Theory I
  • International Accounting
  • Auditing I
  • Managerial Accounting I
  • Accounting Information Systems
  • Seminars
  • Accounting Theory II
  • Auditing II
  • Managerial Accounting II
  • Specialized Accounting Oil and Agriculture
  • Financial Markets
  • Project Research

The study units are distributed for each stage as follows:

  1. The first stage 46 credits
  2. The second stage 36 credits
  3. The third stage 38 credits
  4. The Fourth stage 31 credits

The number of units required for graduation is 151 units.