The department is headed by Doctor of Philosophy in Economics, Ayatulla Suvahil oglu Jabbarov. The faculty team consists of 17 members: 1 Doctor of Sciences and Professor, 1 Professor, 2 Associate Professors, 5 PhD holders in Economics, 1 Senior Lecturer, and 7 Lecturers. The department has 12 doctoral students. Courses offered include 'Financial Accounting', 'Management Accounting', 'Audit', 'Financial Analysis', 'Financial Reporting', 'Analysis of Financial Statements', 'Scientific and Statistical Analysis of Socio-Economic Indicators', 'Practical Audit', 'Budget and Treasury Accounting', 'Statistics', 'Analysis of Foreign Economic Activity', 'Effective Management of Operations', 'Research Methods', and others.

In addition to teaching, faculty members are actively engaged in research. They focus on preparing monographs, textbooks, teaching aids, scientific articles, course programs, and methodological materials, and submitting lecture materials to the university library.

The 'Accounting and Audit' department has a specialized laboratory equipped with the latest technology. The laboratory is rich in teaching aids, technical tools, and multimedia resources for accounting and audit courses. Faculty members conduct lessons using active learning methods and modern knowledge transfer techniques. Students gain both theoretical and practical knowledge in accounting software and develop professional skills using computer technologies. Department staff have participated in professional development programs at several foreign universities.

At the undergraduate level, the department offers the 'Accounting' major; at the master's level, it provides 'Accounting in the Service Sector' and 'Accounting in the Production Sector' specializations; and at the doctoral level, it trains specialists in 5303.01 'Accounting'.