The main responsibilities of the Division of Finance at the University of Iceland include:
Accounting services
Maintaining accurate financial records, managing accounts payable and receivable and travel expenses, ensuring compliance with accounting standards and regulations.
Payments and cash flow
Managing cash flow, executing payments and handling international transactions.
Financial reporting and analysis
Preparing financial statements, reports, and analyses to inform decision-making and ensure transparency and accountability.
Compliance with regulations
Ensuring compliance with financial regulations, internal policies, and external audit requirements.
Procurement and contract management
Developing, overseeing, and managing the university’s procurement strategies.
Taking part in and/or consulting on negotiating contracts and ensuring cost-effective purchasing practices.
Budget planning and management
Developing, overseeing, and managing the University’s annual budget planning process.
Financial support and advising
Providing financial guidance and support to University departments and stakeholders to ensure effective financial management and decision-making.
Location: University Main Building – West wing, 2nd floor
Opening hours: Weekdays from 9 am to 3 pm.
Tel.: + 354 525 4321
The main responsibility of the Accounting Department is to record, report and file everything related to the University's financial accounts. It also provides information on all financial aspects of operations, including preparing annual financial statements that can be used for forecasting and other decision making processes.
Oracle E-Business Suite is the accounting software used by the department.
The Accounting Department provides services related to all aspects of the University's accounts, including accounts payable, accounts receivable and revenue tracking, government forms and tax filings, financial reporting and accounting of revenue and expenses for faculties and departments.
The Division of Finance works in the areas of:
- Accounting services
- Treasurer's services
- Procurement
- Planning
- Administration of travel allowances
The main responsibilities of the Division of Finance are:
- Accounting
- Procurement
- Cashier services
- Invoicing
- Travel allowances
- Travel fund
- A system of devices and depreciation
- Post-award service
- Planning and control
Director of the division
