Accounting System in Terms of Modern Information Technology

Abstract

Economic entities taking diverse managerial decisions rely primarily on enterprise information system data, including accounting. The purpose of this article is to examine the issues of generating reliable and useful information in Russian accounting and reporting during the use of advanced technologies of accounting process automation, and to justify the possible ways of their solutions. Scientific developments in the field of modern information technologies, accounting and reporting have served as a methodological and theoretical basis of the work conducted by the authors. The methods of generalization, analysis, synthesis, detailing, and grouping have become the special methods of research and analysis. The obtained results have allowed to explain the problems to be solved: the qualification level of experts, ethical and moral component in the accounting profession, the unreliability and inadequacy of accounting information, loss of accounting data due to possible hacking of cloud servers, etc.

Influence of internal controls to risk mitigation: A focus on compliance of accounting information

“…The fundamental qualitative characteristics of the accounting information, relevance, and reliable representation, defined in CPC (2019) are aligned with aspects of the information defined by Committee of Sponsoring Organizations of the Treadway Commission (COSO) as qualities of the information. In COSO, the quality of information is dealt with in its component, Information and Communication, and identifies aspects of the information on which the quality of the information, its reliability and usefulness also (Polenova et al, 2019) is dependent, supported by the level of qualification of specialists, ethical and moral components of their performances, among other more technical aspects.…”