MODERN ACCOUNTING METHODS IN THE CONTEXT OF DIGITALIZATION

This paper examines modern accounting practices in the context of digitalization, particularly through the lens of the numerous challenges and opportunities arising from the rapid digitalization of business processes and accounting. The introduction of modern technologies, such as artificial intelligence (AI), big data, automation and cloud services, is changing the way accounting is done, making it more accurate, faster and more transparent. Modern accounting practices associated with digitalization are significantly changing the traditional approach to managing companies’ finances. Digital technologies, such as automation of accounting processes, the introduction of artificial intelligence and the use of big data and cloud platforms, have significantly increased the efficiency and accuracy of accounting and reduced the likelihood of human errors. Integration with other business systems (e.g. ERP and CRM) has allowed companies to receive up-to-date information on financial results in real time, helping to optimize management processes. Digitalization includes not only the digitization of documents, but also automatic processing, storage in electronic documents and the ability to integrate with other accounting systems. Thus, the digitalization of accounting not only opens up new opportunities for business, but also requires flexibility and readiness to help change accounting practices and increase the efficiency, transparency and security of financial processes in the modern business environment. The technological foundations of accounting digitization will be mentioned, in particular the role of big data and artificial intelligence. The latest accounting methods are systematized. Attention is paid to the automation of accounting processes, the digitization of accounting documents, the impact of digitization on accounting reporting and accounting. Problems and risks associated with the digitalization of accounting are identified. Recommendations are provided to companies on the implementation of modern accounting methods in the context of digitalization.