The Department of Accounting and Finance evolved from the former College of Industrial Management (CIM), which was founded in 1975. At its inception, CIM offered two degrees: the Bachelor of Science (B.S.) in Industrial Management, with concentrations in various fields such as management, economics, and accounting, and the Master of Business Administration (MBA).
In 1990, following a period of reform and repositioning, three departments were established: Management and Marketing, Finance and Economics, and Accounting and Management Information Systems.
In 1991, in response to strong student demand and the rapid growth of the financial sector in the Kingdom of Saudi Arabia, the Department launched the Bachelor of Science in Finance program following extensive deliberation and a review of leading programs offered by reputable institutions. That same year, the Department also launched the Bachelor of Science in Accounting program to prepare graduates for careers across industry, public accounting, government, and not-for-profit organizations. Continued student interest in both majors reflects the Department’s enduring relevance and vitality.
In 2018, as part of a strategic response to the emerging needs of the accounting and finance professions, CIM, the Department’s parent college, was rebranded as KFUPM Business School (KBS). In alignment with Saudi Vision 2030 and the Kingdom’s transition toward a diversified and digital economy, the Department’s role has become increasingly important in supporting the transformation of the Saudi economy through privatization, diversification, technological advancement, and greater regional and global integration.
In 2026, the Department further expanded its academic portfolio with the launch of two new undergraduate programs: B.S. in Accounting and Corporate Finance and B.S. in Finance and Financial Engineering. Open for enrollment beginning in the 2026–2027 academic year, these programs respond to the evolving needs of the financial sector, where data, analytics, technology, and quantitative methods increasingly complement traditional accounting and finance expertise.
