On May 22, chief of the Department of Finance and accounting of Economics and Management faculty of Sumgayit State University docent Loghman Abdullayev read lecture on “Inventory accounting” to students and lecturers at Sumgayit State Technical College.

Docent Loghman Abdullayev said: “It is substantial to make accounting proper to International standards. At present accounting is implemented based on International Standards of Accounting by the subjects in our country. Sustainable economic development and macroeconomic stability have been provided in our republic as a consequence of successful implementation of socio-economic development strategy of national leader Heydar Aliyev by President Ilham Aliyev. The Republic of Azerbaijan is conducting independent economic policy without depending on international financial bodies and countries. International organizations, leading financial institutions observe the economic processes taking place in our country. In “Doing Business” report of World Bank, Azerbaijan is in the 25th place. In recent 15 years, 2 million new workplaces established, salaries raised for 7 times, pensions for 9 times in Azerbaijan”.

Docent Loghman Abdullayev also noted that our alumni, who studied on Accounting and finance, work at proper sections of state structures, which conduct economic and social policy of republic, at public bodies and companies, small business entities, international companies, the bodies that carry out budget-tax and credit policy of the country, several education institutions and other structures.

In the end docent responded the students’ questions.