Human societies have recognized the system of accounting since the dawn of civilization. Some studies suggest that the accounting system known to the Pharaohs was one of the most advanced ancient accounting systems. They prepared quantitative records to assess the wealth of kings and Pharaohs. With the emergence and development of the Islamic state, accounting applications evolved. Offices were established to manage public finances, the most famous of which was the Bait al-Mal, established by Caliph Umar ibn al-Khattab (may Allah be pleased with him). In the Middle Ages, advanced accounting systems began to emerge in England to account for and record the expenses and revenues of farms.
Until then, accounting records were no more than documents proving merchants’ financial transactions with others aimed at determining the obligations arising from these transactions. With the advent of the Industrial Revolution, there arose a need for substantial capital to finance projects. Industrial companies developed, and giant companies emerged, both industrial, commercial, and financial. Subsequently, accounting evolved, branching out into various disciplines and methods.
Thus, accounting organizations and bodies were established to develop the accounting science and establish accounting principles to keep pace with all economic developments. Today, accounting and financial management have become indispensable parts of any institution or company as this specialization focuses on recording, transferring information, studying, and analyzing reports on financial events occurring in the company or institution, determining profit and loss, the value of available resources, methods of financing and developing them to achieve the best results leading to increased production rates. Therefore, professionals possessing accounting and financial knowledge and skills are considered essential elements in business and financial institutions.
What is the mission of a graduate in Accounting and Financial Management?
- Engage in analytical thinking to analyze quantitative data regarding financial issues
- Utilize modern accounting methods and techniques
- Prepare financial records and tax invoices
- Provide advice on tax matters
- Develop transaction recording systems
- Analyze financial markets
- Develop integrated financial strategies for the company or institution within a specified timeframe
- Analyze business financially on an organizational basis
Curriculum for Accounting and Financial Management Specialization
The duration of study in Turkey for a bachelor’s degree is four years, and the curriculum in most Turkish universities includes a variety of study programs. However, the content may vary from one university to another. Therefore, students should check the study content (Course Description) on the university’s website they wish to enroll in.
First Academic Year
- Microeconomics
- Macroeconomics
- Basic Legal Concepts
- Mathematics
Second Academic Year
- Commercial Law
- Transaction Management
- Finance
- Statistics
- Social Responsibility and Ethics
- Tax System and Laws
- Financial Markets
- Financial Management
Third Academic Year
- Cost Accounting
- Accounting Standards and Systems
- Investment Analysis and Financial Portfolio Management
- Capital Markets
- Banking Transactions
- Advanced Accounting Applications
- Labor Economics
Fourth Academic Year
- Accounting Audit and Review
- Applied Workshop
- Corporate Accounting
- Project Preparation and Evaluation
- Computerized Accounting
- Information Security
- Communication Concepts
Job Opportunities for Graduates in Accounting and Financial Management
Graduates in Accounting and Financial Management can work in both public and private institutions, including the Ministry of Finance, Ministry of Treasury, banks, and commercial institutions, in the following positions:
- Financial Auditor
- Tax Supervisor or Auditor
- Financial Analyst
- Financial Portfolio Manager
- Member of Audit Committees
- Financial Accounting Expert or Specialist
- Financial Reporting Specialist
- Budget and Financial Planning Specialist
- Financial Advisor and Legal Accountant
