DIGITALIZATION AS THE MOST IMPORTANT TOOL FOR THE DEVELOPMENT OF THE ACCOUNTING AND REPORTING SYSTEM

The digital economy is changing the theory of accounting and its practical application. The development of the accounting system is increasingly directed at the creative professional judgment of experts under condition of the existence of and assumption on the polivariative approach to the choice of one or another method of assessment of accounting objects. Such an approach to the selection of accounting estimates is possible in case the highly intelligent tools are present, such as the modern information systems. The use of information and communication technologies in enterprises of Ukraine is increasing year by year, in particular of cloud computing. The important role of information technology is evidenced by the need to use them during the COVID-19 pandemic to ensure the functioning of the organization remotely. The purpose of the research is to reveal the driving influence of the digitalization in the development of theory, methodology and practice of accounting as the main information component of the formation and implementation of enterprise strategies. The article reveals the role of modern information technologies in the accounting system; features of transformation of the conceptual basis of financial reporting in conditions of their application are considered. The article suggests an intellectual cycle for the formation and implementation of enterprise strategy using modern global information resources, which are obtained from the use of modern information technologies with a strong intellectual potential. The scheme of levels of information technologies according to the degree of their use is presented. Emphasis is placed on the importance of digital technologies in the context of the COVID-19 pandemic. The prospects for the introduction of technologies of artificial intelligence, as one of the features of the digital economy, in accounting are revealed. The digitalization of accounting changes the conceptual basis of financial reporting, expanding the principles and functions of accounting, according to which the best version of the company's strategy is formed and implemented.