In our present paper, we analyze the accounting aspects of digitalization and industry 4.0 in Hungary. First of all, the accounting profession is a traditional profession and accounting rules and principles are established and have been the same for many years. However, globalization of business, stronger regulations and numerous technological solutions and innovations are not bypassing the accounting profession, either. Challenges for the accounting profession are reflected in the need for rapid adaptation and transformation of business practice and business processes without abandoning basic accounting rules and principles. The aim of this paper is to analyze and systematize the key challenges that digitalization brings for the accounting profession. The paper seeks to examine how, through environmental accounting, the broader context of corporate sustainability could be incorporated into the developing vision for Industry 4.0, the fourth industrial revolution.

In our study, we focused on the fourth industrial revolution, which is the revolution of machines at the same time and which affects the world of worthy human work significantly. Let us examine the reasons behind the machine wrecking in the modern era and the technophobia, the negative and positive outcomes of additional spare time, and the state of unemployment. We touch upon the historical antecedents of modern machine wrecking and its present situation. We briefly draw possible alternatives as regards the subthemes. In this study, ethics is ascribed a focal attention since we approach the trends that affect the world of work and have an economic significance in the context of the fourth industrial revolution. We examine the process of Industry 4.0, which has led to a significant transformation of production processes from the aspect of taxation – for example, how the automation of the production processes influences the transformation of the tax system, where humanity is in the changing financial world, or which aspects of the tax system change in the age of the Fourth Industrial Revolution.

The purpose of this study is no more than to give a brief summary of the history of business organisations in public ownership in Hungary along the logic of a recently published large monography. Using the method of descriptive historical approach, facts are established as a result of a kind of syncretistic literature overview. As a basic idea, with a view to the "Sitz im Leben" approach, the evolution of public business organisations may be compared to the development of public finances, and should be managed embedded in the latter, similarly to the economy, which always functions embedded in the society.

The system of managing state property and providing public services was renewed after 2010 in Hungary. As a result of the change in the legal environment and the new regulation, the role of state-owned companies has increased. Today, public services can only be provided through publicly owned companies in almost all sectors. The system of public service tasks was also signifi cantly affected by the introduction and expansion of offi cial price regulation. The economic operation and legality of the companies can be examined by inspections. The transparency of the companies is achieved by publishing these audit experiences and reports. In my study, therefore, I rely heavily on practical experience to present the regulatory cadastre.