TRANSFORMATION OF THE ACCOUNTING AND REPORTING SYSTEM IN THE CONDITIONS OF BUSINESS DIGITIZATION

Authors

  • V. V. Shkromyda Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine https://orcid.org/0000-0003-1826-8243
  • N. Ya. Shkromyda Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine https://orcid.org/0000-0001-7170-2497
  • T. M. Gnatyuk Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine https://orcid.org/0000-0002-7984-987X

DOI:

https://doi.org/10.15330/apred.2.20.370-379

Keywords:

Digitization, accounting, reporting, accounting tasks, innovative technologies, business processes

Abstract

The accounting and reporting system undergoes significant transformation in companies, where digital technologies influence approaches to data collection, processing, storage, and utilization. These changes are viewed positively for accounting as there's a gradual and irreversible shift from traditional accounting procedures to implementing progressive and efficient accounting systems. Utilizing digital innovations, modern accounting systems are poised to evolve into effective strategic management tools to support decision-making.

The aim of this research is to supplement the theoretical and organizational foundations of the accounting and reporting system by revealing the characteristics of accounting tasks and procedures under the influence of advanced digital technologies. It is established that the application of digital technologies leads to the transformation of the accounting and reporting system both theoretically and practically. From a theoretical perspective, digital technologies in accounting give rise to the introduction of new terminology and processes, expand the boundaries of accounting observation, and increase the range of its potential objects. Under such conditions, accounting gradually transitions to a new level of accounting and analytical support, enhancing the quality of business management information. On the practical side, the evidence base for the transformation of the accounting and reporting system includes freeing up the accountant's working time from routine procedures, transitioning to a convenient non-standard schedule of remote work, and increasing the significance of accounting professionals in developing and making management decisions. This empowers accountants to actively participate in interpreting accounting data, conducting analysis of cause-and-effect relationships, and optimizing business processes within the enterprise.

The obtained scientific results will contribute to the development of the theoretical and methodological basis of the accounting and reporting system in the conditions of further digitalization of socio-economic relations, aiming to explore expanded possibilities of accounting and analytical support and strengthening its significance in business management.

Author Biographies

V. V. Shkromyda , Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine

PhD (Econ.), Associate Professor     

N. Ya. Shkromyda , Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine

PhD (Econ.), Associate Professor     

T. M. Gnatyuk , Vasyl Stefanyk Precarpathian National University, Ministry of Education and Science of Ukraine, Department of Accounting and Taxation, Shevchenka str., 57, Ivano-Frankivsk, 76018, Ukraine

PhD (Econ.), Associate Professor     

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Published

2024-06-15

Issue

Section

Accounting and analytical support of enterprises