Development of Accounting in Digital Economy Era

Abstract

With the emergence of economic activity, a person also needed to register the facts of this side of his life. Accounting was born, which with the growth and expansion of production activity of the person gradually, due to the requirements of time, was formed in three main areas of account: accounting financial, management and tax. Accounting, as a living system, has evolved and acquired modern characteristics. At present stage, automation and digitalization are firmly embedded in our lives, changing not only our habits and preferences, but also other aspects of our lives. Accounting will not disappear, just as economic life itself will not disappear, but it will be transformed along with it, and it will continue in a different, more advanced and progressive form. Based on the analysis of the economic literature, it is concluded that the activity of accountants is reduced to the formation of accounting policies, interpretation of events, and classification of the facts of the company’s economic activity. The profession of “accountant” in our usual sense will be a thing of the past, replaced by more qualified specialists with the functions of financial supervisor.