MODERN TRENDS IN DIGITALIZATION OF ACCOUNTING

The article substantiates the need to reveal the differences between the concepts of digitalization and digitization, characterizes the conceptual properties of each concept from the standpoint of their mediation of events and facts of real practice. It is pointed out that it is important to understand the essence of these concepts from the theoretical and practical sides, since the confusion of the terms “digitalization” and “digitization” gives an incorrect idea of the real processes of digital transformation of information, the organization of information flows in accordance with the current legislation. The article formulates the criteria for distinguishing digitalization and digitization of information. The author’s vision of the cause-and-effect relationships of the digital transformation of cash flows in all spheres of the economy (financial and non-financial) both vertically and horizontally and their impact on the corporate economic strategy is presented. From this perspective, the entire economic system, where everything is accounted for and controlled, is “accounting”. The article solves the set goals and objectives, which makes it possible to clarify the content of a number of terms and conceptual characteristics of “digital” processes in the economy, to identify variations in legal tender for accounting purposes, which include cash, non-cash, and electronic funds, to disclose the conditions of recognition digital financial assets in accounting as financial investments. The theoretical and practical significance of the work lies in obtaining conclusions and proposals that contribute to solving the problem of methodological support of digitalization processes in accounting in the context of digital support for the needs of management and institutional regulators (the Ministry of Finance of Russia and others), the use of the developed methodological base in the practical activities of economic entities for formation of internal documents for organizing the digitalization of the accounting process and conducting control procedures.

digitalization, virtual information system, digital accounting, digitalization, online accounting, distributed ledger, digital currencies, digital assets, digitization, big data, ecosystem.

Turmanov M. T. Modern trends in digitalization of accounting. Business. Education. Law, 2021, no. 3, pp. 199—205. DOI: 10.25683/VOLBI.2021.56.354.