PROBLEMS AND PROSPECTS OF ACCOUNTING DEVELOPMENT IN THE DIGITAL ECONOMY

Abstract

The article examines topical issues regarding the conceptual, theoretical and practical foundations of the digital economy, prospects for its development and the impact of digital technologies on innovative development and social progress. The main purpose of the study is to study the problems and prospects of accounting in the digital economy. The following methods were used in the study: epistemological – to reveal the basic concepts related to the digital economy; analysis, synthesis, induction, deduction, abstraction, idealization and generalization – to identify and assess problems of accounting development in a digital economy; systematization and generalization – to study the prospects of improving the efficiency of accounting. In the digital economy, the functions of the accountant are expanding, while the range of competencies and responsibilities is growing. The needs of employers necessitate the training of qualified specialists who are able to solve complex specialized tasks and applied problems in the field of accounting, analysis, control, audit, taxation. To do this, it is necessary to use in the educational process the latest achievements of economics, as well as to systematically improve skills and adhere to the norms of professional ethics. Accounting in a digital economy requires flexibility of the accounting process and relevant knowledge from accounting staff in the implementation and use of new generation information systems and technologies in order to form timely, reliable information about the enterprise. Information and communication and digital IT technologies provide an opportunity to intensify processes, implement modern advances in computer technology. Outlining the general mechanism of transformation of accounting, control and management systems, request for creation of a single information space necessitates conceptual research of the synergetic effect of IT modernization (digitalization) of accounting. It is concluded that digital development is characterized by revolutionary changes and the most important result of digitization in modern conditions is the automation of services, characterized by instability, instability, «innovation-digital explosions», the latest discoveries that operate according to new principles. The application of technological IT innovations in the methodology of accounting changes the form of its organization, increases the level of professional competencies and responsibilities of personnel, brings the information support system to a qualitatively new level of transparency, security, efficiency, relevance. It is especially important to use IT innovations to improve document management. Thanks to IT modernization of accounting procedures the following tasks are solved: collection, grouping and ordering of information flows; fast access and issuance of information; reducing the interval between obtaining information and entering it into the database; reducing the risk of errors in accounting and adoption processes solutions that allow the company to avoid distortion of information in accounting.