DOI: https://doi.org/10.32515/2663-1636.2024.11(44).173-184
Refinement of Accounting Methods and Principles in Industry 5.0
About the Authors
Volodymyr Muravskyi, Professor, Doctor of Economic Sciences, Professor of the Department of Audit and Taxation, West Ukrainian National University, Ternopil, Ukraine, ORCID: https://orcid.org/0000-0002-6423-9059, e-mail: vavanm@gmail.com
Pavlo Denchuk, Associate Professor, PhD in Economics (Candidate of Economic Sciences), Associate Professor of the Accounting and Taxation Department, West Ukrainian National University, Ternopil, Ukraine, ORCID: https://orcid.org/0000-0003-2350-6357, e-mail: pavlo26003419@gmail.com
Levko Prokipchuk, PhD in Economics (Candidate of Economic Sciences), Ivan Franko National University of Lviv, Lviv, Ukraine, ORCID: https://orcid.org/0000-0003-3979-3100, e-mail: prolev.uac@gmail.com
Roman Hnidets, graduate student of the Department of Accounting and Auditing, Ivan Franko National University of Lviv, Lviv, Ukraine, e-mail: Tneubook3@gmail.com
Abstract
The fourth industrial revolution is replaced by Industry 5.0, which is positioned as a human-centered concept of scientific and technological development. The fifth industrial revolution clarifies the theoretical provisions of accounting in the direction of taking into account the behavioral and informational habits of accounting and management specialists, protecting environmental and public interests, optimizing the management of business activities. The methodological techniques and principles of accounting information processing in Industry 5.0 are undergoing the most significant changes.
The relationship between accounting methods and accounting principles in the context of using the latest computer and communication technologies is substantiated. The areas of improvement of methodical methods of accounting with the formation of specific principles of accounting information processing, which were updated under the influence of the formation of Industry 5.0, were determined. Such principles of accounting information processing, grouped by accounting methods, should include: documentation (openness, communication, deregulation, anthropocentrism); inventory (permanence, automatic inventory, non-contact, autonomous movement); assessment (comparability, prioritization of fair assessment, automatic reassessment, planning); calculation (simultaneity, predictability, autonomy, adjustability); double (triple) record (integration, control, security, transparency); reporting (adaptability, international flexibility, convenience, visualization).
The necessity of the complex use of the latest computer and communication technologies for the manifestation of the positive features of Industry 5.0 in terms of the implementation of specific accounting principles has been proven. The optimization of specific management accounting methods in the conditions of Industry 5.0 requires further additional research.
Keywords
accounting, Industry 4.0 and 5.0, the fifth industrial revolution, accounting methods, accounting principles, digitalization, information processing technologies
Full Text:
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References
1. Abu Nassar, Mohammad, Mohammad, Heba, Twerqi, Kuwait, Jordan. (2024). Accounting Conservatism and Company's Profitability: The Moderating Effect of Ownership. Jordan Journal of Business Administration, 17, 483 [in English].
2. Hohol, T. A. (2010). Methodology of accounting as a direction of scientific research in the innovative economy] Haluzeva, mizhhaluzeva ta rehionalna ekonomika, 14, 84–91 [in Ukrainian].
3. Kaminska, T. H. (2015). Methodology of accounting and control as their epistemological basis. Aktualni problemy ekonomiky, 8, 360–371 [in Ukrainian].
4. Kantsedal, N. A. (2018). Scientific interpretation of accounting methodology in the writings of luminaries of accounting thought. Oblik i finansy, 2, 16–23 [in Ukrainian].
5. Koriahin, M. V., & Kutsyk, P. O. (2015). Conceptual development of accounting methodology. Lviv : LKA, 239 p. [in Ukrainian].
6. Lahovska, O. A. (2011). Method of accounting: content and structure of elements. Naukovyi visnyk, 32, 264–269 [in Ukrainian].
7. Lehenchuk, S. F. (2010). Structure of scientific theory in accounting: philosophical analysis. Problemy teorii ta metodolohii bukhhalterskoho obliku, analizu ta kontroliu, 2, 205–215 [in Ukrainian].
8. Muravskyi, V.V. (2018). Computer-communication form of accounting. Ternopil: TNEU, 486 p. [in Ukrainian].
9. Muravskyi, Volodymyr. (2021). Accounting and Cybersecurity: Monograph. Scientific Editor – Z.-M. Zadorozhnyi. Kindle Publishing, KDP, Seattle. USA. 200 p. [in English].
10. Odonkor, Beryl, Kaggwa, Simon, Uwaoma, Prisca, Hassan, Azeez, & Farayola, Oluwatoyin. (2024). The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting. World Journal of Advanced Research and Reviews, 21, 172-188. DOI: https://doi.org/10.30574/wjarr.2024.21.1.2721 [in English].
11. Pratama, Aditya, Dwita, Sany, & Md.Sum, Rabihah. (2023). Digitalization Disclosure and Accounting Information Quality. Wahana Risent Akuntansi, 11, 109-123. DOI: https://doi.org/10.24036/wra.v11i2.1 [in English].
12. Pushkar, M., Semaniuk, V. (2023). Stages of formation of accounting science and its further development. Visnyk ekonomiky, 2, 172–187. DOI: https://doi.org/10.35774/visnyk2023.02.172 [in Ukrainian].
13. Ramautar, Vijanti, España, Sergio, & Farshidi, Siamak. (2024). Navigating the Complex ESG Accounting Landscape: Engineering a Method Selection Framework. Complex Systems Informatics and Modeling Quarterly, 1-26. DOI: https://doi.org/10.7250/csimq.2024-38.01 [in English].
14. Widiasalwa, Syadzwana, Asaari, Masagus, Zhafiraah, Nazma, Governance, Research Of Accounting And. (2024). Research of Accounting and Governance Do Accounting Information Systems, Internal Control, IT Utilization, and HR Competence affect Financial Reports Quality? Research of Accounting and Governance, 2, 24-34 [in English].
Citations
1. Abu Nassar Mohammad, Mohammad Heba, Twerqi Al, Kuwait Jordan. Accounting Conservatism and Company's Profitability: The Moderating Effect of Ownership. Jordan Journal of Business Administration. 2024. № 17. P. 483.
2. Гоголь Т. А. Методологія бухгалтерського обліку як напрямок наукових досліджень в інноваційній економіці. Галузева, міжгалузева та регіональна економіка. 2010. № 14. С. 84–91.
3. Камінська Т. Г. Методологія бухгалтерського обліку та контролю як їх гносеологічний базис. Актуальні проблеми економіки. 2015. № 8. С. 360–371.
4. Канцедал Н. А. Наукова інтерпретація методології обліку у працях корифеїв бухгалтерської думки. Облік і фінанси. 2018. № 2. С. 16–23.
5. Корягін М. В., Куцик П. О. Концептуальний розвиток методології бухгалтерського обліку : монографія. Львів : ЛКА, 2015. 239 с.
6. Лаговська О. А. Метод бухгалтерського обліку: зміст та структура елементів. Науковий вісник. Серія: Економіка. 2011. № 32. С. 264–269.
7. Легенчук С. Ф. Структура наукової теорії в бухгалтерському обліку: філософський аналіз. Проблеми теорії та методології бухгалтерського обліку, аналізу та контролю. 2010. № 2. С. 205–215.
8. Муравський В.В. Комп’ютерно-комунікаційна форма обліку: монографія. Тернопіль: ТНЕУ, 2018. 486 с.
9. Muravskyi Volodymyr. Accounting and Cybersecurity: Monograph. Scientific Editor Z.-M. Zadorozhnyi. Kindle Publishing, KDP, Seattle. USA. 2021. 200 p.
10. Odonkor Beryl, Kaggwa Simon, Uwaoma Prisca, Hassan Azeez, Farayola Oluwatoyin. The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting. World Journal of Advanced Research and Reviews. 2024. № 21. P. 172-188. DOI: https://doi.org/10.30574/wjarr.2024.21.1.2721.
11. Pratama Aditya, Dwita Sany, Md.Sum Rabihah. Digitalization Disclosure and Accounting Information Quality. Wahana Risent Akuntansi. 2023. № 11. P. 109-123. DOI: https://doi.org/10.24036/wra.v11i2.1.
12. Пушкар М., Семанюк В. Етапи формування облікової науки та її подальший розвиток. Вісник економіки. 2023. Вип. 2. С. 172–187. DOI: https://doi.org/10.35774/visnyk2023.02.172.
13. Ramautar Vijanti, España Sergio, Farshidi Siamak. Navigating the Complex ESG Accounting Landscape: Engineering a Method Selection Framework. Complex Systems Informatics and Modeling Quarterly. 2024. P. 1-26. DOI: https://doi.org/10.7250/csimq.2024-38.01.
14. Widiasalwa Syadzwana, Asaari Masagus, Zhafiraah Nazma. Governance Research Of Accounting And. Research of Accounting and Governance Do Accounting Information Systems, Internal Control, IT Utilization, and HR Competence affect Financial Reports Quality?. Research of Accounting and Governance. 2024. № 2. P. 24-34.
Copyright (c) 2024 Volodymyr Muravskyi, Pavlo Denchuk, Levko Prokipchuk, Roman Hnidets
Refinement of Accounting Methods and Principles in Industry 5.0
About the Authors
Volodymyr Muravskyi, Professor, Doctor of Economic Sciences, Professor of the Department of Audit and Taxation, West Ukrainian National University, Ternopil, Ukraine, ORCID: https://orcid.org/0000-0002-6423-9059, e-mail: vavanm@gmail.com
Pavlo Denchuk, Associate Professor, PhD in Economics (Candidate of Economic Sciences), Associate Professor of the Accounting and Taxation Department, West Ukrainian National University, Ternopil, Ukraine, ORCID: https://orcid.org/0000-0003-2350-6357, e-mail: pavlo26003419@gmail.com
Levko Prokipchuk, PhD in Economics (Candidate of Economic Sciences), Ivan Franko National University of Lviv, Lviv, Ukraine, ORCID: https://orcid.org/0000-0003-3979-3100, e-mail: prolev.uac@gmail.com
Roman Hnidets, graduate student of the Department of Accounting and Auditing, Ivan Franko National University of Lviv, Lviv, Ukraine, e-mail: Tneubook3@gmail.com
Abstract
Keywords
Full Text:
PDFReferences
1. Abu Nassar, Mohammad, Mohammad, Heba, Twerqi, Kuwait, Jordan. (2024). Accounting Conservatism and Company's Profitability: The Moderating Effect of Ownership. Jordan Journal of Business Administration, 17, 483 [in English].
2. Hohol, T. A. (2010). Methodology of accounting as a direction of scientific research in the innovative economy] Haluzeva, mizhhaluzeva ta rehionalna ekonomika, 14, 84–91 [in Ukrainian].
3. Kaminska, T. H. (2015). Methodology of accounting and control as their epistemological basis. Aktualni problemy ekonomiky, 8, 360–371 [in Ukrainian].
4. Kantsedal, N. A. (2018). Scientific interpretation of accounting methodology in the writings of luminaries of accounting thought. Oblik i finansy, 2, 16–23 [in Ukrainian].
5. Koriahin, M. V., & Kutsyk, P. O. (2015). Conceptual development of accounting methodology. Lviv : LKA, 239 p. [in Ukrainian].
6. Lahovska, O. A. (2011). Method of accounting: content and structure of elements. Naukovyi visnyk, 32, 264–269 [in Ukrainian].
7. Lehenchuk, S. F. (2010). Structure of scientific theory in accounting: philosophical analysis. Problemy teorii ta metodolohii bukhhalterskoho obliku, analizu ta kontroliu, 2, 205–215 [in Ukrainian].
8. Muravskyi, V.V. (2018). Computer-communication form of accounting. Ternopil: TNEU, 486 p. [in Ukrainian].
9. Muravskyi, Volodymyr. (2021). Accounting and Cybersecurity: Monograph. Scientific Editor – Z.-M. Zadorozhnyi. Kindle Publishing, KDP, Seattle. USA. 200 p. [in English].
10. Odonkor, Beryl, Kaggwa, Simon, Uwaoma, Prisca, Hassan, Azeez, & Farayola, Oluwatoyin. (2024). The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting. World Journal of Advanced Research and Reviews, 21, 172-188. DOI: https://doi.org/10.30574/wjarr.2024.21.1.2721 [in English].
11. Pratama, Aditya, Dwita, Sany, & Md.Sum, Rabihah. (2023). Digitalization Disclosure and Accounting Information Quality. Wahana Risent Akuntansi, 11, 109-123. DOI: https://doi.org/10.24036/wra.v11i2.1 [in English].
12. Pushkar, M., Semaniuk, V. (2023). Stages of formation of accounting science and its further development. Visnyk ekonomiky, 2, 172–187. DOI: https://doi.org/10.35774/visnyk2023.02.172 [in Ukrainian].
13. Ramautar, Vijanti, España, Sergio, & Farshidi, Siamak. (2024). Navigating the Complex ESG Accounting Landscape: Engineering a Method Selection Framework. Complex Systems Informatics and Modeling Quarterly, 1-26. DOI: https://doi.org/10.7250/csimq.2024-38.01 [in English].
14. Widiasalwa, Syadzwana, Asaari, Masagus, Zhafiraah, Nazma, Governance, Research Of Accounting And. (2024). Research of Accounting and Governance Do Accounting Information Systems, Internal Control, IT Utilization, and HR Competence affect Financial Reports Quality? Research of Accounting and Governance, 2, 24-34 [in English].
Citations
1. Abu Nassar Mohammad, Mohammad Heba, Twerqi Al, Kuwait Jordan. Accounting Conservatism and Company's Profitability: The Moderating Effect of Ownership. Jordan Journal of Business Administration. 2024. № 17. P. 483.
2. Гоголь Т. А. Методологія бухгалтерського обліку як напрямок наукових досліджень в інноваційній економіці. Галузева, міжгалузева та регіональна економіка. 2010. № 14. С. 84–91.
3. Камінська Т. Г. Методологія бухгалтерського обліку та контролю як їх гносеологічний базис. Актуальні проблеми економіки. 2015. № 8. С. 360–371.
4. Канцедал Н. А. Наукова інтерпретація методології обліку у працях корифеїв бухгалтерської думки. Облік і фінанси. 2018. № 2. С. 16–23.
5. Корягін М. В., Куцик П. О. Концептуальний розвиток методології бухгалтерського обліку : монографія. Львів : ЛКА, 2015. 239 с.
6. Лаговська О. А. Метод бухгалтерського обліку: зміст та структура елементів. Науковий вісник. Серія: Економіка. 2011. № 32. С. 264–269.
7. Легенчук С. Ф. Структура наукової теорії в бухгалтерському обліку: філософський аналіз. Проблеми теорії та методології бухгалтерського обліку, аналізу та контролю. 2010. № 2. С. 205–215.
8. Муравський В.В. Комп’ютерно-комунікаційна форма обліку: монографія. Тернопіль: ТНЕУ, 2018. 486 с.
9. Muravskyi Volodymyr. Accounting and Cybersecurity: Monograph. Scientific Editor Z.-M. Zadorozhnyi. Kindle Publishing, KDP, Seattle. USA. 2021. 200 p.
10. Odonkor Beryl, Kaggwa Simon, Uwaoma Prisca, Hassan Azeez, Farayola Oluwatoyin. The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting. World Journal of Advanced Research and Reviews. 2024. № 21. P. 172-188. DOI: https://doi.org/10.30574/wjarr.2024.21.1.2721.
11. Pratama Aditya, Dwita Sany, Md.Sum Rabihah. Digitalization Disclosure and Accounting Information Quality. Wahana Risent Akuntansi. 2023. № 11. P. 109-123. DOI: https://doi.org/10.24036/wra.v11i2.1.
12. Пушкар М., Семанюк В. Етапи формування облікової науки та її подальший розвиток. Вісник економіки. 2023. Вип. 2. С. 172–187. DOI: https://doi.org/10.35774/visnyk2023.02.172.
13. Ramautar Vijanti, España Sergio, Farshidi Siamak. Navigating the Complex ESG Accounting Landscape: Engineering a Method Selection Framework. Complex Systems Informatics and Modeling Quarterly. 2024. P. 1-26. DOI: https://doi.org/10.7250/csimq.2024-38.01.
14. Widiasalwa Syadzwana, Asaari Masagus, Zhafiraah Nazma. Governance Research Of Accounting And. Research of Accounting and Governance Do Accounting Information Systems, Internal Control, IT Utilization, and HR Competence affect Financial Reports Quality?. Research of Accounting and Governance. 2024. № 2. P. 24-34.