THE IMPACT OF TECHNOLOGICAL CHANGES, BASED ON ECONOMICS ON FINANCIAL ACCOUNTING AND REPORTING: THE BASED ON THE ECONOMY IMPACT OF TECHNOLOGICAL CHANGES ON FINANCIAL ACCOUNTING STATEMENTS

Abstract

According to previous literature and surveys, technological progress extends the impact of technological changes on economic-based financial accounting and reporting. The purpose of the study is to demonstrate the impact of technological changes and changes on the future of financial statements. The study primarily provides technological tools and provides an overview of the benefits and risks of technological changes in the financial statements. Currently, technology automates daily financial and accounting activities, leading to the reduction of jobs around the world. This article discusses the main aspects of the impact of digitalization processes on financial accounting and reporting. Financial Accounting, being an integral subsystem of the functioning of any economic entity, feels the influence of constantly changing external factors, among which, in addition to changes in the legislative framework, technological and infrastructural changes in the external environment of the enterprise can be distinguished, at the same time, the competitiveness of the enterprise, including its supply with technological In addition, a descriptive study was carried out with a qualitative approach. As a methodology, many case studies, methods of analogy and grouping, analysis, synthesis, comparison, systematic and logical approaches were used. Software companies are related to back office enterprises, as they do not work with the end consumer, but sell their products and services mainly to financial accounting specialists and accounting companies.