NEW APPROACHES TO FINANCIAL ACCOUNTING BASED ON SOCIAL RESPONSIBILITY

Abstract

Relevance. Modern conditions for the further development of business entities of the regional economic system should be based on the latest approaches to the implementation of economic activity itself and its accounting (accounting, financial, etc.). This should happen, first of all, by focusing on digitalization (e-document management, cloud solutions), the implementation of international standards (IFRS), the development of management accounting for decision-making, the integration of analytics and artificial intelligence (AI) for forecasting, as well as sustainable development. The issue of sustainable development and the implementation of its goals also requires new approaches to accounting for financial indicators, ensuring transparency and efficiency in the face of modern challenges (military aggression), which strengthens the role of primary documents and reporting on the reality of economic transactions.

The purpose of this scientific article is to provide a theoretical basis for implementing financial accounting on the principles of social responsibility of business entities.

Research methods. This study was carried out on the basis of the introduction of such methods as: analysis and synthesis, classification and analogy, comparative method, empirical research methods and the method of scientific knowledge. Materials from scientific publications and research, own scientific developments were also used.

The results obtained consist in identifying key areas of scientific research in the field of social responsibility in financial accounting. At the same time, the latest changes in economic activity and accounting policies of business entities were considered. Modern approaches in accounting and financial accounting and some aspects of financial accounting on the basis of social responsibility are substantiated. Modern technologies in accounting of business entities and approaches to accounting and financial accounting are investigated.

Practical value of the work. The results obtained during the study can be useful for students, scientists, postgraduates, regional and local authorities, and can also be used to develop educational programs.

Conclusions: Socially responsible accounting is a voluntary (or partially regulated) extension of mandatory accounting aimed at transparency and sustainable development. The paper investigated modern technologies in accounting of business entities as digital tools that automate processes and increase efficiency.