FAISALABAD:National Textile University Faisalabad (NTUF) on Wednesday celebrated World Accounting Day with a series of academic and extracurricular activities, highlighting the importance of accounting in sound business management and economic stability.
The event was organized by the Society of Accounting and Finance of Faisalabad Business School,NTUF,under the supervision of Society Convener Dr.Muhammad Zia-ur-Rehman and Dr.Tanveer Bajwa.
A large number of faculty members and students attended the celebrations.
An NTUF spokesman said that World Accounting Day was observed annually to acknowledge the contributions of Italian mathematician and Franciscan friar Fra Luca Pacioli, widely regarded as the father of accounting.
He said Fra Luca Pacioli published the first comprehensive book explaining the double-entry bookkeeping system in 1494,which continues to serve as a fundamental principle of accounting practices worldwide.
The celebrations featured a cake-cutting ceremony, an inter-student quiz competition and various food and other stalls set up by students,providing them an opportunity to showcase their organizational skills and participate in extracurricular activities.
Addressing the gathering,NTUF Rector Dr.Rashid Masood described accounting as the language of business and said accuracy in financial reporting played a vital role in building trust among companies, investors and society.
He urged students to uphold professional ethics, ensure transparency in financial matters and equip themselves with emerging technologies to meet the evolving demands of the accounting and finance profession.
Dean,Faisalabad Business School,Dr.Sajjad Ahmed Baig appreciated the efforts of the Society of Accounting and Finance and said such academic activities helped students connect classroom learning with the practical requirements of professional life.
He added that such initiatives provided students with valuable opportunities to broaden their knowledge,enhance professional competencies and better understand the practical dimensions of their respective fields.