Organization of accounting in conditions of digital economy

Abstract

The article examines the problem of modern technology's influence on accounting. The study is based on a review of current and available professional and scientific literature. Processes of transformation of approaches to accounting organization create new opportunities and risks. The key technological solutions that affect accounting are singled out: cloud accounting, the Internet of Things, the use of big data in management and forecasting, and visualization tools. Without the introduction of modern technologies, a business will not be able to remain in a competitive environment. Due to the transformation, enterprises must review all their processes and ways of doing business. Changes in technological development and digitalization will have a significant impact on the accounting profession soon. From the point of view of accountants, digital transformation can be seen as a threat, as IT enables the automation of activities and work processes. At the same time, these changes create an opportunity to free accountants from those routine tasks that can be performed automatically. It is assumed that the main changes will relate to the formation and presentation of daily reporting, differences in the method of preparing business plans and strategic plans, the introduction of online accounting, as well as the outsourcing of accounting. The education system will change in the conditions of the growing digitalization of business. Also, the requests of accounting information users are changing when the main request is aimed at obtaining accounting information immediately when a business event occurs. The systems that appeared with the development of information technologies made possible quick access to large volumes of data, their collection, and storage, and allow to perform structural analysis. These changes will affect how accountants do their jobs, requiring knowledge of new skills, especially technical ones, which will lead to the emergence of new types of specialists in accounting. Accounting professionals will be able to provide advice in many areas related to accounting.