The impact of the economy digitalization on the development of the accounting multi-paradigm for the purposes of financial analysis
DOI:
https://doi.org/10.15587/2706-5448.2022.261323Keywords:
accounting multi-paradigm, implementation of the information support system, digital information technologies, accounting theory, financial analysis, digital economy developmentAbstract
The object of research is the process of formation of accounting paradigms in the digital economy and their compliance with the information support of financial analysis for management needs. The prospects of research are due to the fact that one of the most problematic places is debugging the relationship between accounting practice and science. The regulation of this process is associated with the complexity of identifying individual accounting objects that arise as a support for the digitalization of services and the standardization of this process. There is a transformation of the established accounting paradigm into a multi-paradigm, since traditional and regulatory requirements for data sources are preserved and completely new ones, of a different economic and social orientation, are emerging. To determine the needs of information support for financial analysis, the institutional and legal field for the development of the digital economy in Ukraine, the state of development of the information society have been studied. The volumes of implementation of digitalization of individual corporations are analyzed. The analysis of the current state of theoretical developments in accounting in conjunction with the development of digital technologies in financial and economic processes is carried out. It has been determined that the accounting paradigm is the prevailing interpretation among researchers, practitioners, in regulatory documents and accounting standards of the position/state of the theory of accounting and its economic doctrine, generalizing by the time. The main characteristics of the digital economy and spending on innovation are identified as the leitmotif of the use of knowledge as capital, which is associated with a qualitatively new type of information and telecommunication technologies, inclusive sustainable development, and extends to the methodology of social sciences and management. In the course of the study, multidisciplinary chain links were identified: digital economy – accounting paradigms – methods of financial analysis. A working hypothesis of the influence of these connections on the accounting paradigms and the crystallization of the latter in the multiparadigm has been developed. The risk vectors associated with the advanced development of the digital economy against the tools of its analysis are identified: regulatory, socio-economic, technological and managerial. Subsequently, the stages of financial analysis procedures were adjusted by expanding accounting information on the state of the market and corporate processes in the context of new technologies for making strategic decisions. By clarifying the methodology of financial analysis as a reaction to the multidisciplinarity of the accounting paradigm, an assessment is made of the use of innovative technologies by corporations. It has been proved that the penetration of transactions inherent in the digital economy into the financial system entails its reaction and requires appropriate changes in the methods and methodology of financial analysis. Since the basis of information support for financial analysis is accounting, the development of its paradigm as a multi-paradigm affects the quality of financial data produced for management.
References
- EAEU approved Action Plan for implementing Strategy-2025. Available at: https://eec.eaeunion.org/en/news/glavy-gosudarstv-eaes-dali-vysokuyu-otsenku-tempam-ispolneniya-strategii-2025/
- Semaniuk, V. Z. (2012). Oblik dlia stratehichnoho upravlinnia: problemy teoretychnoi kontseptualizatsii. Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku, 722, 236–241.
- Zhuk, V. M. (2009). Paradyhma bukhhalterskoho obliku ekonomiky harmoniinoho rozvytku. Zbirnyk naukovykh prats Ekonomichni nauky. Seriia: Oblik i finansy, 6 (24), 171–182.
- Legenchuk, S. F. (2011). Accounting theory and methodology development in postindustrial economy conditions. Zhytomyr: ZhDTU, 55.
- Lehenchuk, S. F. (2006). Rozvytok bukhhalterskoho obliku v umovakh postindustrialnoi ekonomiky. Visnyk ZhDTU Ekonomichni nauky, 4 (38), 141.
- Vakun, O., Zarudna, N., Fursa, T. (2020). Strategic accounting paradigm. Galician economic journal, 6 (67), 67–78. doi: http://doi.org/10.33108/galicianvisnyk_tntu2020.06.067
- Vyshnevskyi, V. P., Harkushenko, O. M., Kniaziev, S. I., Lypnytskyi, D. V., Chekina, V. D.; Vyshnevskyi, V. P., Kniaziev, S. I. (Eds.) (2020). Tsyfrovizatsiia ekonomiky Ukrainy: transformatsiinyi potentsial. Kyiv: Akademperiodyka, 188.
- Makurin, A. (2020). Development of Accounting in the Conditions of Introduction of Modern Information Technologies. Accounting and Finance, 1 (87), 52–58. doi: http://doi.org/10.33146/2307-9878-2020-1(87)-52-58
- Spilnyk, I., Paliukh, M. (2019). Accounting in the digital economy conditions. The institute of accounting, control and analysis in the globalization circumstances, 1-2, 83–96. doi: http://doi.org/10.35774/ibo2019.01.083
- Rohova, N. (2020). Transformation of policy, instruments and technologies of accounting and taxation in the conditions of the digital economy. Financial Space, 2 (38), 103–116. doi: http://doi.org/10.18371/fp.2(38).2020.209296
- Hrylitska, A. V., Kryvoruchko, M. Yu. (2018). Modern paradigms and progress of record-keeping trends are in network society. Naukovyi visnyk Poltavskoho universytetu ekonomiky i torhivli. Seriia: Ekonomichni nauky, 4, 88–93.
- Shkulipa, L. V. (2020). Rozvytok bukhhalterskoho obliku u vymiri mizhnarodnykh standartiv finansovoi zvitnosti ta innovatsiinykh tekhnolohii: metodolohiia ta praktyka. Nizhyn: FOP Luk’ianenko V.V., TPK «Orkhideia», 616.
- Lukka, K. (2010). The roles and effects of paradigms in accounting research. Management Accounting Research, 21 (2), 110–115. doi: http://doi.org/10.1016/j.mar.2010.02.002
- Locke, J., Lowe, A. (2008). Evidence and implications of multiple paradigms in accounting knowledge production. European Accounting Review, 17 (1), 161–191. doi: http://doi.org/10.1080/09638180701819881
- Paientko, T. V., Fedosov, V. M. (2018). Financial management: controlling at the micro level. Finansy Ukrainy, 3, 80–96.
- Kurkov, M. (2019). Conceptual model of enterprise financial management system with application of modern information technologies. Scientific Notes of Taurida National V. I. Vernadsky University. Series: Economy and Management, 30 (5 (69)), 142–148. doi: http://doi.org/10.32838/2523-4803/69-5-25
- Dopovid pro stan informatyzatsii v Ukraini za 2020 rik. Available at: https://dostup.pravda.com.ua/request/dopovidi_pro_stan_informatizatsi
- Informatsiia pro rozvytok mekhanizmiv elektronnoho uriaduvannia, stan informatyzatsii, tsyfrovizatsii, tsyfrovoho rozvytku ta zabezpechennia rozvytku informatsiino-komunikatsiinykh tekhnolohii ta informatsiinykh resursiv Ukrainy. Available at: https://dostup.pravda.com.ua/request/84703/response/238839/attach/3/2%203843 %20part%201.pdf?cookie_passthrough=1
- Cait Derzhavnoi sluzhby statystyky Ukrainy. Available at: http://www.ukrstat.gov.ua/
- Stadzhi, D. (2021). Top-25 lideriv didzhytalizatsii. Available at: https://www.dsnews.ua/ukr/reitingi/top-25-liderov-didzhitalizacii-26042021-423158
- Amelin, A., Fishchuk, V., Lavryk, Ya., Yurchak, O., Cherniev, Ye., Matiushko, V. (2019). Ukraina 2030E – kraina z rozvynutoiu tsyfrovoiu ekonomikoiu. Available at: https://hvylya.net/analytics/economics/ukraina-2030e-kraina-z-rozvinutoju-cifrovoju-ekonomikoju.html
- Savchenko, V. M., Yurchenko, O. V., Kononenko, L. V., Palchuk, O. V., Smirnova, I. V., Smirnova, N. V., Hai, O. M.; Savchenko, V. M. (Ed.) (2021). Conceptions and paradigms are in development of theory and methodology of account. Kropyvnytskyi, 362.
- Yershova, N. Yu. (2020). Rozvytok bukhhalterskoho obliku v umovakh perekhodu do tsyfrovoi ekonomiky. Visnyk Natsionalnoho tekhnichnoho universytetu «KhPI». Ekonomichni nauky, 2 (4), 75–80.
- Mazina, O. I., Oliinyk, V. S., Rohoznyi, S. A. (2020). Digitalization as the most important tool for the development of the accounting and reporting system. Internauka. Series: Economic Sciences, 2 (5 (37)), 59–66. doi: http://doi.org/10.25313/2520-2294-2020-5-6028
- Kulyk, V. A. (2017). Qualitative char-acteristics of the accounting information under the conditions of using the information and communication technologies. Naukovyi visnyk PUET, 5, 57–62.
- Nazarenko, I. M., Sokolenko, L. F.; Plaksiienko, V. Ya. (Ed.) (2021). Tsyfrovizatsiia yak vektor modernizatsii systemy bukhhalterskoho obliku. Bukhhalterskyi oblik yak nauka: vid osnov do naukovoi kartyny. Kyiv: Tsentr uchbovoi literatury, 196–208. Available at: http://repo.snau.edu.ua/bitstream/123456789/8936/1/4.pdf
- Digital, Technology, and Data. Data and Analytics. Available at: https://www.bcg.com/capabilities/digital-technology-data/data-analytics
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Svіtlana Kirian, Oksana Radchenko
![Creative Commons License](http://i.creativecommons.org/l/by/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution 4.0 International License.
The consolidation and conditions for the transfer of copyright (identification of authorship) is carried out in the License Agreement. In particular, the authors reserve the right to the authorship of their manuscript and transfer the first publication of this work to the journal under the terms of the Creative Commons CC BY license. At the same time, they have the right to conclude on their own additional agreements concerning the non-exclusive distribution of the work in the form in which it was published by this journal, but provided that the link to the first publication of the article in this journal is preserved.