Impact of Industry 4.0 on the future of accounting

Abstract

At present, accounting is no longer in line with the changing business environment in the context of digitalization. Traditional accounting is used for effective and purposeful decision-making at different levels of management. Today, global digitalization, which absorbs all organizations, speeds up and simplifies the generation of accounting information. Thus, an attempt to connect these two areas of research — accounting and digitalization — can lead to results that make it easier to do business in the current chaotic environment. This article is aimed at studying the possible impact of global digitalization on accounting.