The field of accounting has been changing dramatically in response to computer revolution, increased government regulations, frequent tax law changes, the globalization of business, and the on-going downsizing and restructuring of corporations. In this increasingly complex and competitive business environment, accounting skills are very much in demand and accounting has become a dynamic career. Thus, QOU developed the major of Accounting to be taught at its campuses. The Major aims at preparing qualified cadre of professional accountants to match the needs of the society for the specialization at private and public sectors. The Major also aims at equipping students with enough knowledge and competencies to pursue further graduate studies in the field
The specialization aims to:
- Introduce accounting principles that are used to prepare financial reports, and focus on the importance of accounting to assist the administration in planning, supervision and decision making.
- Introduce accounting standards to prepare financial statements.
- Prepare cost accounting, along with studying and analyzing the costs of each item to calculate the production cost of the final product (a commodity or a service). In addition, to assess inventory and utilize the data of costs in planning, monitoring and decision making.
- Design and operate accounting information systems for manual and automatic operating.
- Study the system of taxation, and apply the bases of tax accounting and procedures followed by the income tax department.
- Differentiate between the governmental accounting system and the private sector accounting system.
- Present financial data in the form of reports and statements, written in a professional manner and characterized by objectivity, accuracy and clarity.
- Analyze and comprehend published financial statements to conclude financial indicators that can be used to help businessmen in their investment and finance.
- Study accounting systems in commercial banks, insurance companies, oil companies, private enterprises, agricultural companies and in branches and departments.
- Use accounting data in preparing estimated budgets, supervision and assessment.
- Use of computer in various fields of accounting, as well as in financial accounting systems and supervision.
- Provide Training on using accounting systems in English.
- Study auditing in public and private sectors in accordance with the international auditing standards.
The following are minor specializations available for the students of Accounting:
- Minor in Health Management.
- Minor in Business Administration.
- Minor in Marketing.
- Minor in Financial Sciences and Banking.
- Minor in Economy.