Digitalization as a Vector of Economic Systems Development & Accounting System Modernization

In today's world, digital technologies are changing the business and value chains, changing the nature of the interaction between the business and its stakeholders. This requires modernization of the accounting system, updating its tools, digitalization of information communication systems. The purpose of the article is to analyze the status and problems of using digitalization tools in the activities of Ukrainian business entities and to determine the directions of modernization of the accounting system. The regulatory framework for building a digital economy in Ukraine was disclosed. The analysis of the use of computers, cloud services and the Internet by Ukrainian enterprises in the process of their economic activity was carried out. It was determined that the digitalization of the spheres of public life and economy is an evolutionary step in the development of a globalizing society. Digitalization is the medium and means of the course of economic processes, which transforms the processes of social production. It was proved that in the context of the development of the digital economy of the company are obliged to spend their activities digitally, or at least a significant part thereof. However, companies will not be able to carry out the business processes digitally and maximize the profits of the "digital" vector of activity without understanding the specifics of transforming the environment in which consumers and customers make informed choices, evaluate and purchase goods, consume services, gain access to public goods, exercise rights and receive information for decision making. It was proved that the accounting system as a basis for managing business processes should be modernized in conceptual unity with digitalization processes. The vectors of modernization of the accounting system in the context of digitalization were formulated, in particular: improving the material, technical, electronic information and institutional support of the accounting system; identification of accounting entities and formalization of their authority in the context of digitalization; the formation of professional digital competencies and ethical standards for accountants; the integration of digitalization in the strategic and tactical goals of the company.