The accounting profession transformation in the digital economy

Abstract

Subject. This article discusses the evolution of the accountant profession in the context of the development of socioeconomic formations and the digital transformation of the economy, as well as the change in the accountant's functional role in the organization's management system. Objectives. The article aims to uncover the patterns of development of the accounting profession from primitive society to the digital economy and determine the impact of modern digital technologies on the transformation of accounting functions and the role of the specialist. Methods. For the study, I used historical and logical analysis, a systems approach, comparative analysis, as well as generalization and abstraction. Results. The article systematizes the main stages of the evolution of the accounting profession, identifies the features of the transformation of accounting activities in the context of digitalization, and reveals the impact of technologies such as artificial intelligence, blockchain, business process automation, and big data on the content of accounting work. The article explains the shift in an accountant's role from performing routine tasks to focusing on analytical and strategic activities. Conclusions. Digitalization of accounting changes the accountants' role significantly, turning them from persons who just handle accounting tasks into strategic business partners. The main areas of transformation are connected with automating processes, integrating accounting systems, expanding what is being accounted for, and moving towards a risk-oriented approach. The development of the profession in the context of the digital economy requires the formation of new skills, which helps improve the organization's efficiency.