Accounting in a digital economy

Abstract

Under modern economic conditions, the trend towards automation and modernization of systems is growing rapidly. This also applies to accounting, as all businesses need to automate this process. Currently, the owners of enterprises, institutions, organizations are in demand for qualified professionals in the field of accounting, analysis, control and taxation. The profession of accountant is always in demand in the labor market. It has undergone significant changes, with the transition to a market economy, which gave impetus to the development of new technologies that have been introduced into accounting. One of the main elements of the accounting system is the information component of two subsystems – management and financial accounting. There is also a reorientation from the control function to the informative, based on the systematization of points of digital transformation of the organization. The digital economy is a type of economy where the key factors and means of production are digital data (binary, information, etc.) and network transactions, as well as their use as a resource that can significantly increase the efficiency and productivity and cost of products and services. The relevance of research in this area is also due to the fact that accounting risks losing its position as the main provider of financial information, due to the “dissolution” in the technical and multifunctional electronic information environment. In addition, problems with reduced accounting functionality have arisen in recent decades due to conservatism and its retroactive focus on information, specific methods and product formats, significant constraints and rules, dominance of the process over results and lack of information value for stakeholders, leading to a number of basic research aimed at reviewing the importance of the process of forming an information environment and finding ways to improve the organization of accounting. The main direction of accounting and control and analytical work of the enterprise is to inform users about the availability and condition of assets, as their acquisition is associated with investment. Collecting data on the availability, condition and movement of assets is a thorough process. Typically, this procedure is performed in different departments of the entity within the specified powers, so it complicates the process of summarizing data obtained from different sources.