The Faculty of Finance and Accounting of the Prague University of Economics and Business was established on 1 July 1991 on the basis of organizational changes of the whole University of Economics in Prague. The core of the faculty was created from the original Department of Finance and Credit and from the Accounting Department. At present, the faculty consists of seven departments: Department of Banking and Insurance, Department of Corporate Finance and Valuation, Department of Financial Accounting and Auditing, Department of Monetary Theory and Policy, Department of Managerial Accounting, Department of Public Finance and Department of Economic Education.