MODERN CHALLENGES IN ACCOUNTING THROUGH THE LENS OFINFORMATION TECHNOLOGY

The article examines the key challenges and opportunities arising from the digital transformation of accounting systems. It emphasizes the technological and organizational factors that determine the successful adoption of Information and Communication Technologies (ICT) in financial reporting and internal control processes. As accounting operations grow more complex, integrating advanced solutions—such as Enterprise Resource Planning (ERP) platforms and blockchain-based triple-entry systems—has become a strategic necessity. The proposed framework classifies accounting software by its level of automation and highlights critical selection criteria: breadth of functionality, userfriendliness, and vendor support. By automating repetitive tasks and improving data accuracy, digital tools reduce manual workloads and minimize errors, freeing accountants to focus on analytical and decision-support activities. From an economic perspective, ICT integration lowers operational costs through streamlined workflows, real-time data synchronization, and scalable architectures. Blockchain technology further enhances data transparency and security, enabling real-time transaction validation and reducing audit expenses. This methodology provides a cost-effective roadmap for enterprises to modernize accounting practices while ensuring regulatory compliance and data integrity. The findings demonstrate that successful digital transformation in accounting requires not only robust technological infrastructure but also targeted staff training and organizational restructuring. By embracing digital solutions, companies can achieve higher efficiency, better decision-making, and strengthened competitiveness in the global economy. The proposed approach is applicable across industries - from manufacturing to services - opening new avenues for innovation and sustainable growth.