Accounting in the Digital Age: Expansion of Terminological Boundaries

Nataliya Kantsedal ()
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Nataliya Kantsedal: Poltava State Agrarian Academy, Poltava, Ukraine

Oblik i finansi, 2019, issue 1, 28-34

Abstract: The new reality of accounting in the digital age requires the permanent improvement of the competences of a modern accountant. At the core of such competencies is knowledge of professional accounting terminology, which today undergoes substantial "infusions" and updates, accompanied by an expansion of the content of economic operations and the emergence of new approaches to their accounting. The purpose of the article is to reveal the peculiarities of the formation of a terminological minimum, which has practical value for an accountant as a future specialist, and also to identify the prerequisites for the successful use of the terminological apparatus of accounting in educational, scientific and professional activities. The improved stratification model for the formation of an accountant's terminological minimum was presented, taking into account the two components of the terminological accounting system (scientific-professional, practical-professional). The practical situation was considered, the peculiarities of the process of terminological identification of the accounting object in the Internet of things environment were revealed and on this basis the requirements of successful adaptation of an accountant in the realities of practical professional activity were systematized. These include: 1) the multidimensional study of economic terminology, as well as technical terminology, which is tangent to accounting; 2) the search for the most representative term, which allows us to understand the economic essence of the object or business transaction; 3) the constant interaction with the relevant regulatory framework to confirm or refute the terminological identity of the concepts of the some accounting object and form a professional judgment on the economic, tax or legal consequences of its registration in the accounting system. The proposals for the improvement of educational methods were substantiated. Such methods contribute to the successful use of the terminological apparatus in the educational and practical activities of accountants, the development of business skills, and the skillful application of professional judgment. The result of this is formation of relevant information for management needs, minimizing the financial risks of enterprises.

Keywords: accounting; terminological system; terminological minimum; data transmission networks; accounting objects; fixed assets; other non-negotiable assets; professional judgment (search for similar items in EconPapers)
JEL-codes: D83 M41 (search for similar items in EconPapers)
Date: 2019
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