The Digital Economy in the Context of Digital Transformation and Their Impact on the Electronification of Accounting Processes in the Slovak Republic

DOI 10.7160/aol.2022.140405
No 4/2022, December
pp. 53-65

Košovská, I., Hallová, M., Váryová, I., Šilerová, E., Hennyeyová, K. and Cihelka, P. (2022) "The Digital Economy in the Context of Digital Transformation and Their Impact on the Electronification of Accounting Processes in the Slovak Republic", AGRIS on-line Papers in Economics and Informatics, Vol. 14, No. 4, pp. 53-65.ISSN 1804-1930. DOI 10.7160/aol.2022.140405.

Abstract

As a result of the explosive growth of scientific knowledge and the rapid development of ICT, the world economy is undergoing crucial global changes, which are the most significant since the industrial revolution. Digitization represents the most important element of the fourth industrial revolution, enabling the connection of technology and people. The digital economy is related to the rapid onset and penetration of information and communication technologies into all areas of human activity, which also requires new perspectives on the factors affecting the development and success of the economy. We digitize information and data, digitize the processes and systems that make up the functioning of the company, and digitally transform the company and its strategy. The main task of article is to determine the digital economy in the context of digital transformation and their impact on the electronification of accounting processes in the Slovak Republic. The article defines the progress and level of development of Europe's digital competitiveness in individual EU member states using the Digital Economy and Society Index (DESI). The position of Slovakia and the EU is compared for the period from 2018 to 2022. Slovakia needs to create conditions for the gradual digital transformation of all sectors of the economy. Digitization is also coming to the accounting. The article also describes how the approved amendment to the Act on Accounting as of January 1, 2022 creates space for streamlining the processing and archiving of accounting records. The current change in the amendment to the Act on Accounting thus offers completely new opportunities for working with corporate accounting in relation to internal processes in the company, but also in relation to financial administration or tax authorities. All entities, this also applies to agricultural entities keeping the double entry accounting, are obliged to follow the Act No. 431/2002 Coll. on Accounting as amended.

Keywords

Digitization, digital economy, digital transformation, electronification of processes, accounting, agriculture, agricultural accounting entities.

References

  1. Bednarčíková, D. (2020) "Digitalizácia v bankovom sektore", Ekonomika, financie a manažment podniku XIV: zborník vedeckých statí pri príležitosti Týždňa vedy a techniky, pp. 40-51. ISBN 978-80-225-4763-5. (In Slovak).
  2. Bednarčíková, D. and Repiská, R. (2021) "Digital Transformation in the Context of the European Union and the Use of Digital Technologies as a Tool for Business Sustainability", Current Problems of the Corporate Sector 2021: 18th International Scientific Conference, pp. 1-11. DOI 10.1051/shsconf/202111501001.
  3. Bican, P. M. and Brem, A. (2020) "Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable "Digital"?", Sustainability, Vol. 12, No. 13. ISSN 2071-1050. DOI 10.3390/su12135239.
  4. Blahušiaková, M. (2022) "Automatizácia a digitalizácia účtovníctva v Slovenskej republike – komparatívna analýza", Ekonomika a informatika: vedecký časopis FHI EU v Bratislave a SSHI, Vol. 20, No. 1, pp. 5-16. ISSN 1339-987X. (In Slovak).
  5. Bloomberg, J. (2018) "Digitization, Digitalization, and Digital Transformation: Confuse Them At Your Peril" [Online]. Available: https://www.forbes.com/sites/jasonbloomberg/2018/04/29/digitization-digitalization-and-digital-transformation-confuse-them-at-your-peril/?sh=423d66852f2c [Accessed: Oct. 26, 2022].
  6. Čierny, M. (2017) "História vzniku pojmu INDUSTRY 4.0 a základné informácie" [Online]. Available: https://www.ipaslovakia.sk/clanok/kvalita-a-industry-4-0 [Accessed: Oct. 28, 2022]. (In Slovak).
  7. Ding, C., Liu, C., Zheng, C. and Li, F. (2022) "Digital Economy, Technological Innovation and High-Quality Economic Development: Based on Spatial Effect and Mediation Effect", Sustainability, Vol. 14, No. 1. ISSN 2071-1050. DOI 10.3390/su14010216.
  8. Dvořáková, L., Vacek, J., Černá, M., Hejduková, P., Hinke, J., Taušl Procházková, P., Vallišová, L., Horák, J., Caha, Z. and Machová, V. (2020) "Metodika adaptace malých a středních podniků v sektoru služeb na implementaci principů, postupů, metod a nástrojů Společnosti 4.0", University of West Bohemia in Pilsen, 85 p. ISBN 978-80-261-0953-2. (In Czech) DOI 10.24132/ZCU.2020.09532.
  9. Gestrn, M. and Staudt, J. (2018) "The digital economy, multinational enterprises and international investment policy", OECD, 24 April 2018. [Online]. Available: https://www.oecd.org/investment/investment-policy/The-digital-economy-multinational-enterprises-and-international-investment-policy.pdf [Accessed: Oct. 27, 2022].
  10. Imran, M., Liu, X., Wang, R., Saud, S., Zhao, Y. and Khan, M. J. (2022) "The Influence od Digital Economy and Society Index on Sustainable Development Indicators: The Case of European Union", Sustainability, Vol. 14, No. 18. ISSN 2071-1050. DOI 10.3390/su141811130.
  11. Implementačná agentura Ministerstva práce, sociálnych vecí a rodiny Slovenskej republiky (2017) "Analýza dopadov digitálnej transformácie na podnikateľov, v súkromnom a verejnom sektore". IA MPSVR SR, 2017. [Online]. Available: https://www.ia.gov.sk/data/files/NP_CSD_II/Analyzy/RUZ/RUZ_Analyza_Analyza_dopadov_digitalnej_transformacie_na_podnikatelov__v_sukromnom_a_verejnom_sektore.pdf [Accessed: Oct. 24, 2022]. (In Slovak).
  12. Jorgenson, D. W., Ho, M. S., Samuels, J. D. and Stiroh, K. J. (2007) "Industry Origins of the American Productivity Resurgence", Economic System Research, Vol. 19, No. 3, pp. 229-252. ISSN 09535314. DOI 10.1080/09535310701571885.
  13. Kaufman, L. and Rousseeuw, P. J. (2005) "Finding Groups in Data. An Introduction to Cluster Analysis", Wiley – Interscience, 1st ed., 342 p. ISBN 978-0-471-73578-6. DOI 10.1002/9780470316801.
  14. Kouřilová, J., Kubíková, M. and Pělucha, M. (2021) "Digitalizace jako předpoklad regionální konkurenceschopnosti? Analýza disparit na příkladu ČR", 22nd International Colloquium on Regional Sciences Masaryk University , Collection of papers, pp. 75-83. ISBN 978-80-210-9896-1. (In Czech) DOI 10.5817/CZ.MUNI.P210-9896-2021-9.
  15. Lovciová, K. (2022) "Digitalizácia – významný začiatok éry transformácie účtovníctva v zmysle trvalo udržateľného rozvoja", Ekonomika a informatika: vedecký časopis FHI EU v Bratislave a SSHI, Vol. 20, No. 1, pp. 24-33. ISSN 1339-987X. (In Slovak).
  16. Ministerstvo investícií, regionálneho rozvoja a informatizácie Slovenskej republiky. (2019) "Stratégia digitálnej transformácie Slovenska 2030", MIRRI SR, 2019. [Online]. Available: https://www.mirri.gov.sk/wp-content/uploads/2019/06/Strategia-digitalnej-transformacie-Slovenska-2030.pdf [Accessed: Oct. 24, 2022]. (In Slovak).
  17. Peng, M. W., Sun, S. L., Pinkham, B. and Chen, H. (2009) "The Institution-Based View as a Third Leg for a Strategy Tripod", Academy of Management Perspectives, Vol. 23, No. 3, pp. 63-81. ISSN 1558-9080. DOI 10.5465/amp.2009.43479264.
  18. Schvab, K. (2016) "The World Economic Forum: The Fourth Industrial Revolution: what it means, how to respond". [Online]. Available: https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/ [Accessed: Oct. 27, 2022].
  19. Slovak Business Agency. (2019) "Analýza potrieb MSP v kontexte agendy inteligentného priemyslu a špecificky vo vzťahu k potrebe ľudských zdrojov do roku 2020/2030", Slovak Business Agency, February 2019. [Online]. Available: http://www.sbagency.sk/sites/default/files/analyza_potrieb_msp_v_kontexte_agendy_inteligentneho_priemyslu.pdf [Accessed: Oct. 26, 2022]. (In Slovak).
  20. Suchman, M. C. (1995) "Managing Legitimacy: Strategic and Institutional Approaches", The Academy of Management Review, Vol. 20, No. 3, pp. 571 – 610. DOI 10.2307/258788.
  21. Šimek, P., Vaněk, J., Stočes, M., Jarolímek, J. and Pavlík, J. (2017) "Mobile accessibility expense analysis of the agrarian WWW portal", Agricultural Economics – Zemědělská ekonomika, Vol. 63, No. 5, pp. 197-203. ISSN 0139-570X. DOI 10.17221/313/2015-AGRICECON.
  22. Unold, J. (2003) "Basic Aspects of the Digital Economy", Acta Universitatis Lodziensis, No. 167, pp. 41-49. E-ISSN 2450-6990.

Full paper

  Full paper (.pdf, 784.76 KB).