Vilnius University
Kaunas Faculty of Humanities

HISTORY

The Department of Finance and Accounting was founded in 1968 after the reorganization of the Department of Public Economic Sciences. From 1968 to 1978 the first head of the Department was assoc. prof. Tadas Zaleckis. In 1993 the Department of Commerce and Finance was established, and the majority of lecturers of the Department of Commerce, Finance and Accounting took positions there. In 1995 the present Department of Finance and Accounting was separated from the Department of Commerce. In 2005 the Department was headed by assoc. prof. Gailutė Gipienė, and is now governed by assoc prof. Dr. (HP) Rasa Kanapickienė.

STUDIES

Along with the Department of Business Economics and Management, the Department of Finance and Accounting coordinates the Bachelor’s Degree Programme in Economics (for college graduates, full – time and part – time students) and Master’s Degree Programmes in Accounting, Finance and Banking (full – time, part – time studies ).

The Master’s Degree Programme in Accounting, Finance and Banking is related to the prospects of national and regional development, demants of labor market, employers’ concerns and students’ demands. The programme aims to educate qualified specialists in accounting, finance and banking, as well as masters of economics who are able to analyse, think critically, and practically apply the modern theories and methods of accounting and finance. They are also able to analyse and estimate the financial problems at the macro level as well as to choose the suitable means and methods to solve the particular theoretical and practical problems of accounting and finance at the micro level.

Graduates of  master’s programme are able to be critical and analytic towards economics, accounting, finance and banking theories and research methods; choose and apply finance management methods, identify its application problems and find solutions; assess global, regional and national tendencies of economical development; creatively employ and implement financial projects in interdisciplinary section; act in varied and complicated circumstances; make decisions on economically based finance management solutions in constantly changing market conditions; estimate and control business risk; organise and implement accounting (control the accounting process) in various economic subjects according to Lithuanian and international regulations; assess and analise macro settings  and micro settings of credit agency’s activity; shape and control portfolio; analyse lending peculiarities; apply major clientele’s credit solvency methods; integrate  knowledge of accounting, finance and banking  and make decisions in extraordinary situations without sufficient, specific information supplied; do research, get original results and analyse them; clearly and reasonably formulate scientific findings.

After finishing the master’s programme students acquire knowledge and skills that are necessary for a successful competition in labor market and in the fields of accounting, finance and banking. The masters may also proceed to get the doctoral degree and seek for a scientist’s career or a career in education; they may do the analytical and commanding work in a broad range of national or international financial institutions and advisory activities. The masters may work as the leaders of international or Lithuanian accounting and finance divisions of business companies and highly-qualified specialists.

SCIENTIFIC WORK

The Department’s investigative work aims at the factors of business environment. The scientists of the Department analyse the implementation of accounting policy, administrative record and internal control systems in Lithuanian small and medium companies; they make analysis of “real and right view” conception and analyse the possibilities of evaluation of the accounting results, the features and extent of conservative accounting policy and accounting manipulations, as well as the influence of international accounting to the accounting in Lithuanian companies. They do modeling research and evaluation of fraud and mistakes detection in financial accounts. While going deeper into the trends of decentralizing the public finance system and control theories of municipal debts, they develop the topic of public finance. They also go deeper into the theoretical and practical aspects of financial control in companies and do the research and evaluation of Lithuanian stock market.

SCIENTISTS

Prof. Rasa Kanapickienė, assoc. prof. Eugenija Buškevičiūtė, assoc. prof. Eduardas Freitakas, assoc. prof. Gailutė Gipienė, assoc. prof. Kristina Rudžionienė, assoc. prof. Gerda Žigienė make the nucleus of the Department.

PUBLICATIONS

The community of the Department publishes the results of the scientific research in scientific press and monographs. They also summarize the necessary study material in textbooks and schoolbooks:

• Kanapickienė, R. (2008). Įmonės vidaus kontrolė. Kaunas (in Lithuanian);
• Žigienė, G.; Čiburienė, J., Chandler, M. W.(2008). Local public finance in Central and Eastern Europe, Cheltenham;
• Kanapickienė, R.; Rudžionienė, K.; Jefimovas, B. (2008). Finansinė apskaita: vadovėlis. Vilnius (in Lithuanian);
• Buhalterinės apskaitos specialistų rengimas Lietuvoje (2007). Ed. Assoc. prof. R. Kanapickienė. Kaunas (in Lithuanian);
• Gronskas, V.; Simanavičienė, Ž.; Kilijonienė, A.; Freitakas, E.; Teresienė, D.; Mačerinskienė, I.; Matekonienė, J.; Railienė, G.; Šivickas, G; Ivaškevičiūtė, L.; Vengrauskas, P. V.; Langvinienė, N.; Galinienė, B.; Čiburienė, J.; Bernatonytė, D.; Štreimikienė, D.; Gipienė, G.; Kanapickienė, R.; Rudžionienė, K. (2006). Предпринимательская среда в новых странах ЕС. Москва (Moscow) (in Russian).

The Department along with Lithuanian Association of Accounting Researchers and Educators publishes the journal Accounting Theory and Practice.

DISSERTATIONS

Since the year 2000 seven dissertations were successfully defended by: Gediminas Rasimavičius, Rasa Kanapickienė, Kristina Rudžionienė, Gerda Žigienė, Artūras Mažeika, Povilas Aniūnas, Deimantė Teresienė. Currently the Department has five dissertations in the process of preparation.

PROJECTS

The lecturers of the Department also participate in various projects, e.g. Human Resource Development and Creating of Social Responsibility Implementation Programs (since September 2004 assoc. prof. Kristina Rudžionienė was responsible for the finances of the NORDIC PLUS project) and in EU Structural Funds Support project Integral Training of Lithuanian Distance Education System (prof. Dr. (HP) Rasa Kanapickienė, assoc. prof. Kristina Rudžionienė, assoc. prof. Borisas Jefimovas).

CONFERENCES

The students of the Department, especially the graduates, play up in the scientific activities, conferences organised by the Department and the annual conference The Development of Economy: Theory and Practice. The master students along with scientists of the Department publish the results of scientific research in joint articles.

ALUMNI

The Department is proud of its graduates’ achievements. Graduates of master’s degree programme are able to establish and govern their own companies, control finances and do accounting. Ingrida Muckutė -  head of the Ministry of Finance Accounting Methodology Department, Audrius Virbalas –  manager of JSC  Snoras  Kaunas department, Arnas Žalys – manager of JSC Ūkio bankas Finance service, Jurgita Štaraitė – personal banker in JSC SEB Bank, Juozas Buitkus –  manager of JSC Lietuvos draudimas, Šarūnas Mickevičius – assistant manager of  Financial Crime Investigation Service (Kaunas department), Jurgita Šilaikytė – manager of JSC Balkan Investment Bank (Kaunas agency).