Athens University of Economics and Business, Greece



Sofia University "St. Kliment Ohridski", Bulgaria



Athens University of Economics and Business, Greece



Athens University of Economics and Business



University of Warsaw, Poland



University of Warsaw, Poland



Sofia University "St. Kliment Ohridski", Bulgaria



Technical University of Kosice, Slovakia

FASTER in simple words

FASTER (Financial and Accounting Seminars Targeting European Regions) develops an innovative on-line educational platform in order to facilitate the flow of existing practical knowledge produced in the daily routine of financial services of enterprises, banks & public sector. Interactive web-based educational applications and case studies on real accounting situations provide accumulated knowledge in forms suitable to non-formal, practical learning, serving  both Erasmus and Leonardo Da Vinci strategic objectives.  
The  courses are in 5 languages, while accounting, taxing, legislative differentiations between nations are spotted. The idea to allow and encourage the mobility of EU citizens to work in foreign countries, demands not only knowledge of finance and accounting, but training based on local conditions (law, terminology and ethics) and familiarity with national law & taxes. FASTER also includes a European system of job vacancies and  e-CVs, enabling transnational pursuit of jobs.


In other words, FASTER:

  • produces innovative ICT e-learning toolbox emphasizing on a teaching & information exchange web mechanism comprising of a laboratory, courses and a job-seeker tool for finance and accounting
  • works complimentarily to the already acquired academic background of interested parties
  • meets standard academic requirements to obtain industrial recognition
  • contributes to the development of quality lifelong learning and to promotes high performance, innovation and a European dimension in systems and practices in the fields of finance and accounting
  • supports the development of innovative ICT-based content, services, pedagogies and practice for lifelong learning
  • links studies & working environment and widens transnational pursuit of jobs in finance & accounting
  • promotes mobility
  • offers a prototype learning environment expandable to all languages and to all disciplines


In more detail

FASTER is a two year project (2011-2013) funded by the EU. During the first year the requirement analysis was completed with the participation of 133 academics, 1030 graduates and undergraduate students, 176 people interested in vocational training and 97 employers who replied to the FASTER interviews and online questionnaires. In total, requirement analysis gathered 1528 online replies to questionnaires and 64 replies to interviews. Participants in the requirement analysis considered as very important:

  • The usefulness of an on line platform in teaching accounting and analyzing accounting information.
  • The use of new technology in developing accounting skills.
  • The help of new technology to streamline processes.
  • The innovative idea of having an on line job seeking environment and mechanism that can match employers and job seekers in the accounting profession.

The FASTER project is in its second year. The end product of the project is the development of the FASTER PLATFORM in five languages. It is also web based.

The FASTER PLATFORM consists of:

  • Educational material.
  • Resources (bibliographical sources and glossary).
  • Job seeker.

Educational Material

The educational feature of FASTER Platform includes the development of 8 e-modules in the following areas:

  • Financial accounting.
  • Accounting plans.
  • Accounting for public limited companies (S.A.) – limited liability companies (Ltd) – Groups of companies - Code for accounting books.
  • Tax Accounting.
  • Balance sheet issues.
  • Analysis of financial statements - business valuation.
  • Accounting ERP.
  • International accounting standards.

Each e-module contains

  • A concise-relevant theoretical review.
  • Power Point presentations.
  • Yes/No questions.
  • Multiple Choice questions.
  • Exercises and problems to be answered and solved by the student.




The educational material is accompanied by two kinds of important resources:

  • Bibliographical sources.
    • Glossary.

The bibliographical sources are the following:

  • 182 Journals’ titles (118 in English language and 64 in local languages).
  • 371 Book’s titles (161 in English language and 210 in local languages).
  • 255 Legislation related internet links (54 in English language and 201 in local languages).
  • 164 e-books (114 in English language and 50 in local languages).
  • 69 Web sites (58 in English language and 11 in local languages).

The glossary contains 734 terms in five languages (English, Greek, Bulgarian, Polish and Slovak). An extract of the way the glossary has been developed follows:








absorption full costing

πλήρης κοστολόγηση / απορροφητική κοστολόγηση

абсорпционен метод за калкулиране на себестойността на материалните запаси

pełna absorpcja kosztów

zahrnutie nákladov do ceny zásob

accelerated depreciation

επιταχυνόμενη απόσβεση

счетоводни промени

przyspieszona amortyzacja

zrýchlené odpisovanie

accrual accounting

λογιστική των δεδουλευμένων

счетоводство на база принципа на текущо начисляване

rachunkowość memoriałowa

akruálne účtovníctvo



majority interests

δικαιώματα πλειοψηφίας

мажоритарно участие, акционерен дял

udziałowiec większościowy, pakiet większościowy

väčšinový podiel

market price

τιμή της αγοράς

пазарна цена

cena rynkowa

trhová cena


Job Seeker

Job seeker is a module of the FASTER Platform responsible to match skills required by employers and obtained by students/users of the platform who successfully complete the tests available on the platform.  Employers can log in to the platform and advertise job openings, which are associated with the skills listed in the systems database.  The same skills are then used by instructors who are preparing the exercises and questions and associate them with the skills.


FASTER Dissemination Strategy provides all the information for the public at large covering 5 countries. So far the following dissemination activities have been realized

  • 2 printed media and 3 electronic press releases have been disseminated; all with national and international coverage.
  • A newsletter has been delivered in print version during 5 dissemination events, published via 2 websites (www.fasterproject.eu and http://www3.ekf.tuke.sk/kamahi/index.php?id=712) and delivered in national languages to 500 SMEs and accounting firms, 500 students and accountants, 500 financial services of public authorities and 500 relevant institutes, via email. 
  • Faster web site (www.fasterproject.eu) had 447 individual visitors until November 20, 2012 and 3.757 page views.
  • 5 information days with more than 200 participants each one has been organized.

 Work in Process

Up to now, the following activities have taken place:

  • The Alpha version of FASTER PLATFORM is being developed and expected to be finished in March 2013.
  • After that date, the FASTER PLATFORM will be ready for pilot use (Beta version).

Stay tuned with FASTER project www.fasterproject.eu

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