Problems of Accounting in the Digital Economy and Ways to Improve IT

Implementation of the ‘Digital economy of the Russian Federation’ national program should contribute to creating an economic environment where digital technology will be used to ensure efficient interaction between the business, scientific community, government, and population. Such interaction between economic agents in the context of digitalization requires a special regulatory system and new, relevant staff competencies.

Aim. The presented study aims to examine the transformation of accounting functions in the economic system at the stage of its digitalization, identify the most relevant directions for improving the quality of accounting, and develop a competency-based model for the training of accountants in modern Russia.

Tasks. The author determines the specific aspects of operation of accounting departments in the context of digitalization, identifies problems in the current accounting methodology and practice in Russia at the present stage, and formulates modern professional competencies that are necessary for accounting specialists to enhance their competitiveness in the labor market.

Methods. This study uses general scientific methods of cognition: observation, generalization, comparison, deduction and induction, analytical assessment of legal documents in the field of accounting and bookkeeping.

Results. In addition to the automation of accounting processes, accounting departments in the digital economy have undergone a number of changes that transformed the functionality of not just the accounting departments of organizations, but the profession of accountant in general. Most notably, such transformations require changes in the competency-based model for the training of accounting specialists, which should include new competencies, such as systems thinking, cross-sectoral communication, and emotional intelligence.

Conclusions. At the present stage, accounting does not have a sufficiently comprehensive methodology to perform its functions efficiently, which is a problem that needs to be addressed at the level of federal regulation. One potential way of resolving this issue involves using international experience and practices related to accounting and reflecting certain types of assets and information in the accounts, namely, those that have emerged and become relevant in the context of the digitalization of specific business processes and the national economy as a whole.

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