Finance department is a structural unit that carries out financial, accounting and purchasing 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 the legislation and international standards. The functions and duties of the finance department are as follows:

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

·        Executing financial transactions and ensuring financial stability;

·        Financial and economic transactions ensure correct reflection in accounting;

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

·        Proper accounting and inventory of the University’s assets, liabilities and working capital, as well as their efficient management ensure timely and correct reflection of tuition fee settlements in accounting accounts; ensure correct calculation and payment of wages, scholarships, business trips, taxes, grant and project payments to;

·        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;

·        Ensure that the reports stipulated by the legislation are submitted within the specified periods to do;

·        to conduct accounting work, 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 normative-legal acts, international standards;

·  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

- Purchase and supply sector

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

·        Department manager – Chief accountant

·       Department Deputy Director

accountant

·        Accountant

·        Purchasing and Supply Sector Manager

·        Purchasing and Supply Sector Senior Specialist

·      Purchasing and Supply Sector Leader Specialist