Finances and Accounting Service

                    Finance and Accounting Service

Chapter I. General Provisions

  • The provision of Higher School “Education Academy” (hereinafter educational institution) regulates the university’s Finance and Accounting Service (hereinafter – Service) activities;
  • The Service activities are guided by Laws of Georgia’s, by-laws regulations, international standards of accountancy, Charter of university and this Provision;
  • Within the Service competence he/she is accountable before the Rector and head of the administration and carries out the obligations provided by the law as well as the duties obliged by the rector and head of the administration;

Chapter  II. Service activities in the area, the main tasks and functions

2.1. Service activities are: financial and economic operations accounting; formation of assets and liabilities; movement of a cash flow; equity and obligations; financial accounts (and other);

2.2. The main tasks of the Service:

  • To create normal working conditions for university academic and administrative staff;
  • To determine the use of optimal regime of the property of university;
  • To perform accounting receipt and delivery of the material in full compliance with the current law;
  • To protect the budget and tax regime;
  • Not to allow the criminal activities connected with the property disposal;
  • Not to allow account seizure and blocking etc.
  • To make inventories of the property and financial obligations for the purpose of ensuing the reliability data of accounting;

  2.3. The main functions of the Service are:

  • Financial Accounting;
  • Accounting records;
  • To draw up the annual budget, its implementation control;
  • Pricing analysis and development of recommendations for further periods;
  • Financial information processing and preparation of the report;
  • The preparation of the past period financial analysis;
  • Structuring and control of expenses;
  • Realization of banking operations, deposit salaries and taxes transfer;
  • Organization of financial accountability in accordance with international standards;

Chapter III.  Structure and Leadership

3.1. Finance and accounting department is one of the structural units of the university administration

3.2. Finance and accounting service is guided by the Head of the Service;

3.3. Head of service is appointed and dismissed by the head of the administration presented by the university rector. In case of the head’s absence (vacation, business trip, illness) the   head of administration performs his/her duties;

 3.4. Head of  Service:

  • Performs statistical and accounting on the basis of primary accounting documents;
  • Opens accounts and regulates relations with bank (banks);
  • Within the competence considers realization of administrative acts of university and gives a visa to contracts and other documents;
  • In service activity ensures the protection of legality and confidentiality considered by law;
  • According to established rule reviews correspondence and within the competence makes decisions, signs the information letters connected with the service of financial accounts activity;
  • Sets the financial statements (balance sheet, profit, loss report, etc.) and presents to the relevant departments;
  • By this provision performs other functions and tasks determined by administrative and legal acts of university and legislation of Georgia;

 Chapter IV. Transitional Provisions

Changes and supplements are implemented in the provision in accordance with the legislation of Georgia;

Chapter V.  Final provisions

Reorganization and liquidation of service is carried out in accordance with the legislation of Georgia;