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. Dr. Gailutė Gipienė, in 2005-2013 it was headed by prof. Dr. Rasa Kanapickienė, 2013-2014 m. was headed by Prof. Dr. Kristina Rudžionienė and is now headed by by Assoc. Prof. Dr. Gailutė Gipienė. 

Study programmes

You are welcome to study:

Bachelor level programmes:

• Economics
• Economics and Management

Master level programmes:

• Accounting, Finance and Banking

Personnel

Surname, Name	Position	Telephone no.	E-mail
Kaminskienė Vaidilutė	Administrator	8 37 422926	v
Freitakas Eduardas	Associate Professor, Dr.	8 37 422926
Gipienė Gailutė	Head of the Department, Associate Professor, Dr.	8 37 422926	g
Gliaubicas Darius	PhD student, lector	8 37 422926
Kanapickienė Rasa	Professor	8 37 422926
Klimaitienė Rūta	Lector, Dr.	8 37 422926
Matusevičienė Lina	PhD student, lector	8 37 422926
Paškevičius Paulius	PhD student, lector	8 37 422926
Ramanauskaitė Agnė	Lector, Dr.	8 37 422926
Rudžionienė Kristina	professor	8 37 422926
Špicas Renatas	PhD student, lector	8 37 422926
Valukonis Mantas	PhD student, lector	8 37 422926
Vijūnas Mindaugas	PhD student	8 37 422926
Teresienė Deimantė	Associate Professor, Dr.	8 37 422926	d
Žigienė Gerda	Professor	8 37 422926

Science

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 on the accounting in Lithuanian companies. They do modeling research and evaluation of fraud and mistake detection in financial accounts. While going deeper into the trends of decentralising 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. Eduardas Freitakas, assoc. prof. Gailutė Gipienė,  Prof. Kristina Rudžionienė, assoc. prof. Gerda Žigienė, assoc. Prof. Deimantė Teresienė comprise the nucleus of the Department.

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. Master level students along with scientists of the Department publish the results of scientific research in joint articles.

Projects

PROJECTS

The lecturers of the Department participate in various projects, e.g. “Human Resource Development and Creating of Social Responsibility Implementation Programs” (since September 2004, Assoc. Prof. Dr. 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, Prof. Dr. Kristina Rudžionienė, Assoc. Prof. Dr. Borisas Jefimovas).

Publications

PUBLICATIONS

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

1. Ramanauskaitė, A.; Rudžionienė, K. (2013). Intellectual Capital Valuation: Methods And Their Classification // Ecnomics. Vol. 2, p. 79-92.
2. Garšva, G.; Skuodas, S.; Rudžionienė, K.(2012). Earnings Management in European Banks: the Financial Crisis and Increased Incentives for Manipulation Through Loan Loss Provisions // Transformations in Business and Bconomics. Vol. 11 (2A), p. 504-526.
3. Žigienė, G. (2012). The Importance Of Functions Assignment For The Intergovernmental Fiscal Relations // Journal of Business Management. Vol. 5, 112-125.
4. Žigienė, G.; Žiūkaitė, M. (2012). Lithuanian business sector sensitivity to cyclical fluctuations in the study  // Applied Economics: Systematic Research. Vol. 4(2), p. 47-64.
5. Freitakas, E. (2010). The Impact Of The Banking System On The Economic Growth // Bridges, Vol. 2 (51), p. 41-48
6. Freitakas, E.; Rimšienė, V. (2010). Peculiarities of Credit Risk Management in Credit Unions // Economical Herald of Donbas Quaterly.  Vol. 4  (22), p. 157 -163.
7. Gipienė, G.; Matusevičienė, L. (2010) Requirements For Balance Setting-Up And Report Improvement Possibilities // Економічний вісник Донбасу. Vol. 4 (22), c. 149-156.
8. Klimaitienė, R.; Grundienė, Ž. (2010). Financial Fraud Investigations Using Company Budgets Informatikon // Economics And Management. p. 960 – 964.
9. Klimaitienė R.; Tilinskaitė A. (2010). Methodology of Budget Model Identification and Alteration. Trends // Economics and Management. Vol. 6 (12), p. 51 - 60.
10. Rudžionienė, K.; Christauskas, Č. (2010). The "True And Fair View" Concept In Lithuanian Accounting Regulation // Social Sciences. Vol. 1, p. 42-48.
11. Liubimova, A.; Žigienė, G. (2010). Public Expenditure And Volume Structure On The Country's Economic Growth // Applied Economics: Systematic Research. Vol. 4 (1), p. 53-68.
12. Aniūnas, P.; Nedzveckas, J.; Krušinskas, R. (2009). Variance – Covariance Risk Value Model for Currency Market // Engineering Economics, Vol. 1, p. 18-27.
13. Teresienė, D. (2009) Lithuanian Stock Market Analysis Using A Set Of GARCH Models // Business Economics And Management: Transition Processes In Central And Eastern Europe. Vol. 10 (4), p. 349-360.
14. Freitakas E.; Teresienė D. (2009). Измененния в банковской системе Литвы и их влияние на экономическое развитие страны.  „Problems and prospects of cooperation between countries of south-eastern Europe within context of Black sea economic cooperation and GUAM“.a. Sevastopol - Donetsk.
15. Teresienė, D.; Paškevičius, P. (2009). Portfolio Construction And Management During The Period Of Financial Crisis // Economics and Management. Vol. 14. p. 195-201.
16. Žigienė, G.; Mickevičienė, M. (2009). Lithuanian Non-Life Insurance Companies' Diversification Rating // Management of Organizations: Systematic Research. Vol. 50, p. 141-159.
17. Kanapickas, A.; Kanapickienė, R.; Freitakas, E. (2008). Obščestvennoje mnenije ob atomnoj i energetike v Litve // Sociologičeskije issledovanija,  Vol. 9, p. 142-144
18. Rudžionienė, K.; Gipienė, G. (2008). Model Of Accounting Regulation In Lithuania // Transformations in Business and Economics. Vol. 7, p. 171-185.
19. Kanapickienė, R. (2008). Internal Control In Lithuanian Companies // Economics and Management. p. 30-38.
20. Rudžionienė, K. (2008). Financial Reporting Elements Evaluation Techniques Lithuania // Economics and Management. p. 56-61.
21. Teresienė, D.; Aarma, A.; Dubauskas, G. (2008) Relationship Between Stock Market, Inflation And Interest Rates // Transformations In Business & Economics. Vol. 7, No 2(14).
22. Žigienė, G.; Čiburienė, J.; Chandler, M. W. (2008).  Local Government Finance In Lithuania // Local Public Finance In Central And Eastern Europe. Cheltenham. p. 229-254.
23. Žigienė, G. (2007). Transformations of Local Government Finance in Lithuania during the Transition // Transformations in Business and Economics. Vol.  6 (1), p. 53-70.
24. Freitakas, E.; Žigienė, G.; Grigaitis, A. (2006). The PAD Phenomenon In The UK Capital Market // Transformations in Business and Economics. Vol.5 (1), p. 148-165.
25. Teresienė, D.; Dubauskas, G. (2005). Autoregressive Conditional Skewness, Kurtosis And Jarque-Bera In Lithuanian Stock Market Measurement // Engineering Economics, Vol. 5, p. 19-24.

PhD THESES

Since the year 2000, eight PhD theses were successfully defended by: Gediminas Rasimavičius, Rasa Kanapickienė, Kristina Rudžionienė, Gerda Žigienė, Povilas Aniūnas, Deimantė Teresienė, Rūta Klimaitienė, Agnė Ramanauskaitė. Currently the Department has six PhD theses in the process of preparation.