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Professor Dr. Hassan Sadjadi Nejad Father of modern accountancy and financial management in Iran

Professor Hassan Sadjadi Nejad (1918- 1988). A Chartered Accountant, senior Iranian technocrat, academic, and scholar is regarded as the father of modern accountancy and financial management in Iran. He was instrumental in the nationalisation of the Iranian oil industry promoted by Iran’s Premier, Dr. Mohammad Mosadeq, and in the development of the National Iranian Oil Company and related industries. He promoted the creation of many of the country’s modern financial institutions.

As Dean of the Iran’s School of Accountancy and Finance he is said to have personally educated five thousand of the country’s future generation of accountants, managers, and technocrats many of whom have gone on to manage Iran’s economic, financial and commercial development.

Biography

Early Life

Professor Hassan Sadjadi Nejad was born in February 1918 in Isfahan (Iran) to a respected local family. He completed his primary education at Saadi College in Isfahan, a city with deep cultural roots which continued to hold a special place in his affections all his life. He graduated with a Diploma of Science with honours.

Education

In 1935, he was admitted to Tehran’s prestigious University of Sciences to study pure and applied mathematics, physics and chemistry. His talent for mathematics was recognised early on and while a second-year student, he was invited by the University to teach first-year students in mathematics and chemistry.

In 1936 Sadjadi Nejad won one of five bursaries awarded in a nation-wide search graduates to be sent to England for further education and to acquire the skills that were needed to modernise Iran’s economic infrastructure and financial institutions. The young Sadjadi Nejad was sponsored by Iran’s Bank Melli to study in England and to become one of the country’s first Chartered Accountants. While studying accountancy in London, Sadjadi Nejad took degree studies in mathematics, physics, and chemistry. He became 1945 a member of the Institute of Chartered Accountants in England & Wales in and a Fellow of the Institute in 1960.

Early career

With the ending of World War II, Sadjadi Nejad was able to return to Iran to begin a lifetime of service in developing the country’s economic infrastructure. His first job was to be tasked with the modernisation of Bank Melli of Iran (National Bank), the forerunner of the Central Bank of Iran. In 1951 he moved to the oil industry to set up the National Iranian Oil Company (NIOC), which came about as a result of the nationalisation of the British owned Anglo Persian Oil Company. He began his career at NIOC as Head of Finance for the oil producing regions, becoming Chief Finance Officer, Chief Counsel, Deputy Finance Director, Trustee of the NIOC Pension Fund, CEO of Nishapour PLC and serving until his retirement on the Board of NIOC and a great number of financial institutions that he had helped to establish.

Father of modern accountancy and management profession in Iran

Professor Sadjadi Nejad is regarded as the father of modern accountancy and financial management in Iran.

In 1958, seven years after the nationalisation of the Iranian Oil Industry, Hassan Sadjadi Nejad and colleague Dr. Esmail Erfani, with the support of Abdullah Entezam, then CEO of National Iranian Oil Company, founded Iran’s first Faculty of Accountancy, Finance and Management as “the Higher School of Accountancy” with Iran’s first class of accountants graduating in 1962.

Father of modern accountancy

Professor Sadjadi Nejad was formally appointed Dean in 1969, a position in which he ran alongside his many official “day-time” duties until retirement, persuading the best of Iran’s financial, business and legal talent to join the University’s teaching faculty to create the region’s leading centre of excellence renamed the National Iranian Oil Company School of Accounting and Finance.

Marriage and children

Professor Sadjadi Nejad had two sons, Saiid and Majid, with his first wife Akram Ansari also from one of Isfahan’s celebrated Ansari family and the great granddaughter of the pioneer of modern printing and publishing in Iran. He had two sons, Hamid and Vahid and a daughter, Hamideh, with his second wife, Pari Sharifi.

His first son, Saiid died in early childhood. His second son Majid Sadjadi Nejad qualified as a chartered accountant, becoming an international businessman and investment banker and Managing Director of Rostam Capital. His siblings Hamid, Vahid and Hamideh live in North America.

Death Professor Sadjadi Nejad passed away on 1st September 1988 in Tehran. Assisted by a team of devoted students, he famously completed editing his last book in his final days at his hospital.

Legacy

It is estimated that Professor Sadjadi Nejjad personally taught and helped over 5,000 students to graduate as accountants and was instrumental in educating many more who studied his books as part of their curriculum. Many of these students have gone on to lead and continue to make major contributions to the creation of today’s Iranian economy.

A student of the country’s culture and arts, Professor Sadjadi Nejad was a skilled musician, playing the “Tar” a traditional Iranian instrument, a leading player of the games of backgammon and bridge which he promoted as bringing the joy of mathematics to the public.

Published works

A tireless academic and prolific author Professor Sadjadi Nejad was the author of more than 20 books on finance and management which continues to be studied by Iranian students

Publications include •	Introduction to accountancy co-authored (with Mr Kheradjoo) •	Principles of budgeting and management accounting Vol 1, •	Principles of book keeping and management control Vo; 1 •	Principles of accountancy and treasury management Vol 2 •	Principles of accountancy and treasury management Vol 3 •	Principles of budgeting and management accounting Vol 3 •	Principles of accountancy and treasury management Vol 4 •	Principles of budgeting and management accounting Vol 4 •	Principles of accountancy and treasury management Vol 5 •	Principles of budgeting and management accounting Vol 5 •	Translation into English of Nasser Khosro’s travelogue with his eldest son Majid Sadjadi Nejad

References https://en.wikipedia.org/wiki/Mohammad_Mosaddegh The Auditor (Hessabress) No. 2 – Tehran, July 1999 Iran Accountancy Year Book www.iran-acc-yearbook.com/index.php/faces/80-dr-sajjadi.html

The Accountant (Hessabdar) Monthly – No 132 – Tehran, August 1999 https://en.wikipedia.org/wiki/Bank_Melli_Iran https://en.wikipedia.org/wiki/N.I.O.C._school_of_Accounting_and_Finance - History The Auditor (Hessabress) 17 June 2014 http://www.hesabras.com/fa/article/18/%D8%AD%D8%B3%D9%86-%D8%B3%D8%AC%D8%A7%D8%AF%DB%8C-%D9%86%DA%98%D8%A7%D8%AF The Accountant (Hessabdar) Sadjadi Nejad Commemorative Edition – Tehran – August 1988 The Human Sciences Portal www.ensani.ir/fa/19186/profile.aspx Authorities on Modern Finance – Dr Taftiyan, http://share.drtaftiyan.com/SC.php?type=component_sections&id=3&sid=1054