Digitalization as a Vector of Information Systems Development and Accounting System Modernization

Chyzhevska Lyudmyla (), Voloschuk Lidiia (), Shatskova Liubov () and Sokolenko Liudmyla ()
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Chyzhevska Lyudmyla: Department of Information Systems in Management and Accounting, Zhytomyr Polytechnic State University, Ukraine
Voloschuk Lidiia: Department of Accounting, Analysis and Audit, Odessa Polytechnic State University, Ukraine
Shatskova Liubov: Department of Accounting, Analysis and Audit, Odessa Polytechnic State University, Ukraine
Sokolenko Liudmyla: Department of Business-Economic and Administration, Sumy State Pedagogical University, Ukraine

Studia Universitatis „Vasile Goldis” Arad – Economics Series, 2021, vol. 31, issue 4, 18-39

Abstract: Digitalization causes structural changes in the economic sectors and influences business activity and processes, leading to the companies’ increased productivity, competitive advantages and effective development creation and consolidation. This article is purposed to substantiate that the economy digitalization entails the need for companies’ system and mechanisms modernization to ensure their competitiveness and to improve management systems. The research is conducted using methods of theoretical generalization, analysis, synthesis, comparison and grouping. This study resulted in defining both global and Ukrainian economies’ trends for digitalization with a description of its impact on the business activity and business processes, assessing the economy digitalization effects to the requirements for the company’s information system that therefore serves to establishing directions for its modernization through the introduction of digital technologies, such as Electronic Data Interchange, Extensible Business Reporting Language, BigData, Internet of Things, Robotic Process Automation, Artificial intelligence, Real-time Adherence, cloud technologies, blockchain. The directions of companies’ accounting digitalization implementation and development are as flows: changes in the accounting system in terms of its method elements; application of Assets, Liabilities and Capital new digital forms; advanced training in compliance with the requirements for the accounting personnel digital competencies.

Keywords: digitalization; digital technologies; accounting; information systems; IT industry (search for similar items in EconPapers)
JEL-codes: M15 M41 O33 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:vrs:suvges:v:31:y:2021:i:4:p:18-39:n:3

DOI: 10.2478/sues-2021-0017

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