ACCOUNTING IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

Abstract

Modern IT technologies and the dynamics of their development objectively cause fundamental changes in various areas of the social environment and economic sectors. The intensive development of the digital economy naturally leads to organizational changes in the formation of the accounting system. The processes of using digital resources in this information system (digitalization) are becoming natural. Modern technologies cause significant changes in the design of the general information system of an enterprise, which, in turn, necessitates the organization of appropriate accounting practices. It actualizes the need to develop an accounting paradigm adequate to the new conditions - to substantiate the relevant content of theoretical statements and to develop practical recommendations. The global automation of business management processes by using modern digital technologies and their application to accounting and analytical activities actually improve the quality of many processes, enhance security and increase the efficiency of enterprises. The benefits of implementing a particular type of digital technology in the accounting system are accompanied by the possibility of a number of challenges (cyberattacks, software errors, errors in algorithms, etc.). In these processes, there are also facts of insufficient legal regulation of certain issues related to the use of modern digital technologies in the accounting sector. In the context of the development of the digital economy the issues of the directions of accounting development are being discussed and various arguments are being given for its organizational structure in the context of accelerated digitalization, which actualizes this area of research. Existing theoretical developments and practical examples on the digital transformation of the accounting system sufficiently formulate a generalized view of these processes, but the problem of developing applied principles for the implementation of information technologies of a specific type remains unresolved. Historically, accounting has been a business function that has been slow to adapt to changes and trends. Not many people expected to see a fully remote work environment in the accounting industry in the near future. However, recent technological advancements are fundamentally affecting all aspects of business, and accounting is no exception.