DIGITAL TECHNOLOGIES AS A DRIVER OF TRANSFORMATION OF ACCOUNTING FOR ECONOMIC ACTIVITY OF ENTERPRISES
Keywords:
accounting, digital transformation, artificial intelligence, blockchain, cloud computing, economic activity, modeling, enterprise managementAbstract
The article investigates the transformative impact of digital technologies on accounting practices within modern enterprises operating in the digital economy. It focuses on advanced tools such as cloud computing, artificial intelligence (AI), blockchain, and robotic process automation (RPA), which are revolutionizing traditional methods of recording, processing, and analyzing financial information. These technologies significantly improve the accuracy, speed, and reliability of accounting operations, enabling real-time reporting, automation of repetitive tasks, and enhanced financial decision-making capabilities. The study emphasizes the cross-sectoral implications of digital transformation, illustrating how businesses in manufacturing, retail, services, agriculture, hospitality, construction, and transportation are adopting these innovations to optimize resource allocation, stream-line financial workflows, and strengthen competitiveness. For example, AI facilitates predictive analytics in retail and service industries, while blockchain improves transparency and security in supply chains and construction project financing. In agriculture and transportation, digital solutions support cost control and asset tracking, respectively. Despite the substantial benefits, the transition to digital accounting is accompanied by numerous challenges. Key issues include heightened cybersecurity risks, data privacy concerns, and the need to develop digital competencies among accounting professionals. The author underscores the critical importance of implementing secure digital infrastructures – such as data encryption, cloud backups, and multi-factor authentication – to mitigate potential threats and safeguard sensitive financial data. Furthermore, the article advocates for comprehensive employee training and continuous professional development to ensure effective integration of new systems. Real-world case studies demonstrate successful applications of digital tools, including AI-based revenue forecasting, blockchain-enabled transaction verification, and RPA-driven accounts payable processes.
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