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.