Accounting and auditing

"Accounting and audit" is among the most important specialities, enabling graduates to apply their knowledge working in companies in all sectors of the economy. Accountant is one of the few professions needed in all areas of business and economics. External and internal auditors are also in big demand on the labor market. Graduates also have excellent prospects of working in state supervision authorities, tax authorities and tax police, etc.

This specialty is traditionally one of the most popular as qualified accountants are very important in the activity of any company or organization. Professional accountants are required in public administration agencies, banks, insurance companies and investment funds, financial departments of industrial and commercial companies, audit firms, manufacturing enterprises, educational institutions, etc. The Ukrainian Academy of Banking trains specialists in the following fields: "Accounting and audit in bank management" and "Accounting and audit in business management".

There is a myth that accountants are the people involved in constant calculations, seeing nothing but their numbers and debit and credit balances. This is far from true! Accountants no longer need to carry out complex calculations on their own as all "dirty" work is done by computers. What accountants need to do is to enter the correct numbers in the appropriate slots.

The accountant’s responsibilities include: the control of the financial flows, the analysis of financial statements, tax accounting,

Interaction with tax authorities, auditors and inspectors. It is also important to monitor changes in the legislation.

Auditors can work both in big companies as internal auditors and in various small audit firms, the number of which is rapidly growing, because audit inspections are mandatory for certain businesses and organizations. In addition, an auditor may obtain a license and have a private practice.

Students in "Accounting and Audit" master the accounting theory and gain practical skills of business operations accounting, learn the methods of analytical processing of accounting data to make business and management decisions. They also learn the specifics of tax accounting methods and techniques of financial analysis, international standards of financial reporting and auditing, and most importantly, the legislation in the field tax accounting and audit. Students are taught how to develop a rational system of accounting and prepare statements on the basis of effective accounting and tax policies, to assess the results of financial and economic activities, conduct audits and prepare audit reports.

Lessons are conducted by qualified teachers in the areas of finance, accounting and audit. They introduce students to difficult situations that occur in the practical activity of companies and encourage them to find the optimal solutions. In their fourth year of studying students also have practical attachments abroad (Germany, Poland, and the Czech Republic). Students undergo practical training not only in companies of different forms of ownership, but also in commercial banks, accounting firms, etc.

    A specialist in "Accounting and Audit" has the following abilities and skills:
  • ability to use the professional knowledge and skills in the field of accounting to keep accounting registers, prepare and submit reports (financial, statistical, taxation, special);
  • ability to use the knowledge and skills in the areas of accounting, analysis and supervision to provide senior executives of banking institutions with the necessary information for making managerial decisions;
  • ability to use the knowledge and skills in the areas of accounting to organize the work of employees performing the accounting, analytical and supervisory procedures;
  • possess the methods for the analysis of financial and economic activity of banking institutions;
  • ability to use the knowledge and skills in the field of supervision to organize the work of internal and external auditors;
  • ability to use the professional knowledge and practical skills in accounting to organize the accounting process;
  • ability to carry out the analysis of financial and economic activity of banking institutions;
  • ability to use the professional knowledge and practical skills in supervision to organize the work of internal supervision departments (internal audit).

    A specialist in "Banking" possesses:
  • modern knowledge about the organization of accounting of economic operations at banks on all of its stages (initial, current and final);
  • modern conception of accounting with the use of information systems and computer technologies;
  • basic knowledge about the methods of assessing assets, ownership capital, liabilities, profits and expenditures;
  • modern knowledge about the organization of financial, managerial, taxation and statistical accounting in banking institutions;
  • basic knowledge about the main types, forms and methods of supervision;
  • modern knowledge about the organization of economic analysis of banking institutions’ activities;
  • modern conception of the regulatory basis of accounting and supervision;
  • modern conception of the regulatory basis of taxation;
  • modern knowledge about the structure and functioning system of internal control at banking institutions;
  • modern conception of determining ways to improve accounting and supervision at banking institutions.

A graduate can work as auditor, expert accountant, inspector accountant, scientific worker (economics), accountant and analyst of economic activity, economic consultant, economist, chief accountant, economic advisor, tax advisor, chief auditor, head of control and auditing department.