The finance department is a structural unit that carries out financial, accounting and procurement activities at Nakhchivan State University. The department provides financial transactions, financial support for decision-making, protection of financial stability and efficient management of university assets. In its activities, the Finance Department is guided by the Laws of the Republic of Azerbaijan, decrees and orders of the President, decisions and orders of the Cabinet of Ministers, normative documents of the Ministry of Education, international standards and internal regulations of NSU. The main goal of the chair is to organize and manage the financial and economic activities of the university in a transparent manner, in accordance with legislation and international standards. The functions and duties of the finance department are as follows:

· Preparation, approval and control of implementation of financial plans, state program allocations and income-expenditure estimates;

· To implement financial operations and ensure financial stability;

· To ensure correct reflection of financial and economic transactions in accounting;

· To control the timely and correct preparation, submission and publication of financial statements;

· To ensure the proper accounting and inventory of the University's assets, liabilities and working capital, as well as their efficient management;

· To ensure timely and correct reflection of tuition fee settlements in accounting accounts;

· To ensure the correct calculation and payment of wages, scholarships, business trips, taxes, grant and project payments;

· Provide financial control in the process of procurement planning, demand study and implementation;

· Conduct financial analysis, evaluate cost efficiency and make proposals to the management;

· To ensure that the reports stipulated by the legislation are submitted within the specified periods;

· To conduct accounting, prepare, present and publish financial reports in accordance with the procedure established by the Law of the Republic of Azerbaijan "On Accounting" and "On Public Legal Entities" and other legal acts, international standards;

· To organize the implementation of financial operations intended to be carried out by the university in connection with the subsidiaries of the university, the enterprises under its authority and under its supervision;

· Evaluating activity results, preparing proposals for improving financial indicators based on analytical analyses;

At present, the financial accounting of the university has been developed and work is being done to organize fully automated accounting based on programs that meet the modern requirements of the time, and training and development programs are being organized in order to increase the professional potential of employees. The finance department is directly subordinate to the rector of the university and the chair is headed by Safarali Abdullayev. The financial department includes 1 division and 1 sector.

- Financial accounting

- Procurement and supply sector

The financial department consists of 16 people and includes the following tasks:

· Head of department – Chief accountant

· Deputy head of department

· Financial specialist

· Senior accountant

· Lead accountant

· Accountant

· Head of purchasing and supply sector

· Senior specialist of procurement and supply sector

· Leading specialist in procurement and supply sector

· Procurement and supply sector specialist

· Procurement and supply sector warehouse