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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Chyzhevska Lyudmyla & Voloschuk Lidiia & Shatskova Liubov & Sokolenko Liudmyla, 2021. "Digitalization as a Vector of Information Systems Development and Accounting System Modernization," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 31(4), pages 18-39, December.
    • Handle: RePEc:vrs:suvges:v:31:y:2021:i:4:p:18-39:n:3
    DOI: 10.2478/sues-2021-0017
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    References listed on IDEAS

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    1. Jan Owen Jansson, 2013. "The Economics of Services," Books, Edward Elgar Publishing, number 14373.
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    Cited by:

    1. Mihaela MARICA, 2022. "Considerations on the protection of teleworkers, in light of the current European regulations. Elements of comparative law," Juridical Tribune - Review of Comparative and International Law, Bucharest Academy of Economic Studies, vol. 12(4), pages 509-520, December.

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    More about this item

    Keywords

    digitalization; digital technologies; accounting; information systems; IT industry;
    All these keywords.

    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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