Chapter 2.2. Digitization of Accounting Processes in the Formation of Reporting Indicators under IFRS

Alexander Bradul; Vira Shepeliuk; Olga Roeva

doi:10.36690/DSDS-114-137

Chapter 2.2. Digitization of Accounting Processes in the Formation of Reporting Indicators under IFRS

Authors

Alexander Bradul

Kryvyi Rih National University

https://orcid.org/0000-0001-9544-2175 (unauthenticated)

Vira Shepeliuk

Kryvyi Rih National University

https://orcid.org/0000-0001-6270-5936 (unauthenticated)

Olga Roeva

Kryvyi Rih National University

https://orcid.org/0000-0003-2964-8188 (unauthenticated)

DOI: https://doi.org/10.36690/DSDS-114-137

Keywords:

accounting, information, accounting process, accounting digitization, IFRS compliance, financial reporting, digitization, cloud accounting, data accuracy, regulatory standards

Synopsis

The modern global economy demands the modernization of accounting and financial reporting systems from enterprises. The digitization of accounting processes has emerged as a key strategy, offering enhanced data utilization, increased transparency, and strengthened financial security. The digitization of accounting processes has become a crucial factor in the modernization of financial reporting systems. This paper examines the role of digitization in the formation of financial reporting indicators under IFRS, highlighting the benefits, challenges, and potential advancements in the field. This study aims to analyze the impact of digitization on accounting processes, particularly in the formation of financial reporting indicators under IFRS. The research focuses on identifying key digital tools such as cloud computing, blockchain, artificial intelligence (AI), and Enterprise Resource Planning (ERP) systems that optimize financial reporting. Additionally, it evaluates the regulatory landscape, the role of technology in compliance, and the broader economic implications of digital transformation in accounting. The study employs a mixed-methods approach, combining qualitative and quantitative analysis. Empirical data is collected through structured surveys and expert interviews with financial professionals, accountants, and regulatory bodies. Statistical analysis is used to assess the effectiveness of various digital tools in ensuring compliance with IFRS and improving financial reporting accuracy. The comparative analysis of traditional and digital accounting practices further highlights the advantages and limitations of digitization. The findings indicate that the digitization of accounting processes significantly enhances financial reporting accuracy, efficiency, and compliance with IFRS. Cloud-based accounting platforms provide secure and accessible financial data management, while AI-driven analytics streamline decision-making. privacy concerns, and the need for regulatory adaptation remain significant. The study underscores the necessity of a structured regulatory framework to facilitate a seamless transition to digital accounting practices. Further research should focus on developing standardized frameworks for digital accounting integration, addressing cybersecurity concerns, and assessing the long-term economic impact of digitization in financial reporting.

Author Biographies

Alexander Bradul, Kryvyi Rih National University

Doctor of Science (Economics), Рrofessor, Professor of the Department of Accounting, Taxation, Public Management and Administration, Kryvyi Rih National University, Kryvyi Rih

Vira Shepeliuk, Kryvyi Rih National University

Ph.D. in Economics, Associate Professor, Associate professor of Department of Accounting, Taxation, Public Governance and Administration, Kryvyi Rih National University, Kryvyi Rih, Ukraine

Olga Roeva, Kryvyi Rih National University

Doctor of Philosophy (PhD), Associate Professor, Associate Professor of the Department of Accounting, Taxation, Public Governance and Administration, Kryvyi Rih National University, Kryvyi Rih

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