Digitalization of accounting is a requirement of the new industrial revolution

The purpose of the study - the analysis of the directions of electronization of accounting operations in the period of rapid development of digitalization and the study of the features of the use of various digital technologies.

The methodology of the research - comparative analysis, logical generalization, systematic approach methods were used in the research work.

The practical importance of the study - the current rapid digitalization of the economy, by affecting all sectors of the economy, makes it necessary to electronize accounting processes. In this regard, the explored fundamental proposals in the study can be evaluated and applied as innovative solutions to achieve competitiveness in companies and enterprises, save operating costs and time, and increase operational efficiency.

The results of the research - the issues studied and a number of facts show that the Fourth Industrial Revolution has led to significant changes in the world economy and the emergence of new trends by accelerating the use of technological innovations. Suggestions on existing potential and prospects for adapting to these innovations and overcoming the challenges it has created are provided in this study.

The originality and scientific novelty of the research - In the context of digitalization of industry, rapid growth of e-commerce, by justifing of the necessity for digitalization of financial and accounting operations in enterprises and organizations, the use of a number of innovative technologies has been recommended and identified  features and application mechanisms of those technologies. At the same time, the importance and impacts of digitalization and the proposed high technologies have been identified  for joint activities.

Keywords: digital economy, digital technologies, electronic accounting, cloud technology, blockchain, big data.

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Issue

№4 - 2020

Author

Heydarov Javidan Rasul