Specific Aspects in Financial-Accounting Management of Non-financial Sector Enterprises in Forming Financial Results in a Digital Environment
Specific Aspects in Financial-Accounting Management of Non-financial Sector Enterprises in Forming Financial Results in a Digital Environment

Author(s): Valentina Staneva
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: financial and accounting management; financial result; specific accounting decisions; temporary tax differences; depreciation of assets
Summary/Abstract: Accounting is developing in an increasingly dynamic, digitalized environment, driven by the development of new technologies (including cloud), artificial intelligence, and their integration into the financial and accounting management of enterprises from the non-financial sector in a digital environment. Trust in the use of new technologies in accounting is built through processing, classification, generalization, presentation and control for the reliability of accounting information in reflecting economic facts, phenomena, and processes. It is also a prerequisite for compliance with the accounting principle for the true and honest presentation of the financial and property status of the enterprise. Digitalization in accounting imposes new requirements on financial and accounting management, caused by working with information arrays and the need to make management decisions in a digital environment, based on past experience and applying new approaches to achieve a positive financial result in conditions of competitiveness. The topic of specific aspects in financial accounting management of enterprises in the non-financial sector is relevant to the current and near-future economic conditions. It is connected to the evolving understanding of the accountant’s profession, where digitalization supports managerial decisions and creates prerequisites for sustainable societal development. At the same time, it provides a field for the implementation and application of new approaches in the preparation and implementation of the adopted accounting policy of the enterprise. The use of specific accounting decisions in forming the financial result should not be perceived as an attempt to manipulate the accounting information. An indicator of the correctness of the specific accounting decision is the presence of documentary justification, in the strict application of the regulatory framework requirements in the accounting and taxes field. The purpose of this study is to present the result of using a theoretical model to simulate the manifestation of the applicable specific accounting decisions in the formation of the financial result and subsequent assessment to justify an informed management decision for their application in the context of digital data transformation, in compliance with the requirements of accounting and tax regulations.

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