Accounting and Finance as a profession had emerged in response to the social, economic and business environment needs. The Accounting and Finance profession has shown a continuous and tremendous growth in the business world. Accounting and Finance, in the modern context of business, is a Financial Information and Communication System that provides various groups of decision makers with valuable and reliable information that makes a difference in their day-to-day business decisions. The basic rationale of the program is attributed to the observed continuously flourishing of different organizations in Ethiopia, along with the rapid pace of development of Ethiopian economy. Different countries in general, and Ethiopia, in particular host various organizations: private, governmental, profit making, non-profit making, service, manufacturing organizations, etc. The business world is becoming increasingly complex and is facing new and greater challenges continually. The Accounting and Finance profession, a key profession in modern business society, will have to meet these challenges. Given the volatility of events, the Accounting and Finance education program needs to provide new skills and knowledge to Accounting and Finance graduates who enter the profession. This program is designed to prepare students for careers in Accounting and Finance in all economic sectors such as business, not-for-profit, and government organizations. The areas of Accounting and Finance study are financial Accounting, Cost and Managerial Accounting, Tax Accounting, Accounting Information Systems, Government and Non-Profit Accounting, Finance, and Auditing. In addition to the above mentioned input of the program, it combines and applies several supporting subject fields including law, information technology, quantitative techniques and economics pertinent to the accounting and finance agenda.