Advanced accounting perspectives in the light of leading economic digitalisation processes

Abstract

This paper focuses on the advanced perspectives for modern top-notch accounting that employs some leading processes that have their roots in the recent trends of digitalization. With the current boom of information and communication technologies (ICT), accounting embraced many novel tools and instruments that help to achieve its results faster and with a smaller margin of error. As accounting professionals continue to embrace digitalization of accounting, they help more companies achieve new growth and development perspectives. Innovations that blend together digitalization with the traditional financial products induce a revolution in accounting meaning that taxes are better reported and collected. Furthermore, cloud computing and modern management have a major impact on accounting and accountants and the way they are providing their services. All in all, it appears that the success of automation strategies and the emergence of the digital age depend to a large extent on human factors: individual employees and a holistic human resources strategy.

Enhancing accounting operations through cloud computing: A review and implementation guide

“…This accessibility is particularly beneficial in today's globalized business environment, where decisions often need to be made quickly and remotely. Digital systems also offer advanced analytical tools, enabling accountants to generate detailed financial reports and insights, facilitating more informed decision-making (Evstafyeva, Kislaya and Kruchanova, 2019). Furthermore, digital accounting practices are better equipped to adapt to changing regulatory requirements.…”

Revision and Digitalization

“…Neplanirani poremećaji u digitalnom softveru i aplikacijama dovode do toga da informacije nisu dostupne, što u tom trenutku otežava rad revizije. Smatra se da se neplanirani prekidi i zastoji mogu izbeći putem digitalnih podataka i analize (19).…”

“…Privremeni prekidi revizije zbog programa digitalne revizije utiču na sam proces revizije, koji postaje manje efikasan (20). IT tehničari su u tom slučaju obavezni da podrže procene menadžmenta i razvoj poslovnog strukturiranja kako bi revizorske kuće mogle da upravljaju operacijom digitalizacije (19). Međutim, one kuće koje su nove u digitalizovanom poslovanju teže da biraju određene delove procesa revizije i radne korake za digitalizaciju.…”

Outsourcing of Tax Services: The Case of Romania

“…Most recent studies have investigated the impact of digitalization on accounting function and emphasized that digital technologies have significantly changed the work of accountants preparing them to evolve from bookkeepers to advisors (Evstafyeva et al, 2019;Gulin et al, 2019;Kokina et al, 2021;Kruskopf et al, 2020).…”

“…Recent studies have explored the impact of digital technologies on accounting function emphasizing firstly that RPA technology can release accountants of repetitive, mundane and timeconsuming tasks, secondly cloud computing can ensure immediate access to information and remote delivery of services and thirdly digitalization of economy can reduce tax evasion since tax authority will be able to closely monitor transactions performed by companies (Evstafyeva et al, 2019;Gulin et al, 2019;Kokina et al, 2021;Kruskopf et al, 2020).…”