Main Limitations of Using Information Technologies in Drafting Annual Financial and Non-Financial Reports

Abstract :

Motivation: Evolving economy and the development of robotization refers to many areas of economic life. Accounting and reporting is no different here, yet the manner in which the process is progressing and the areas it concerns attracts great interest among employees of finance and accounting departments and is becoming a subject of studies which will allow for getting the answer- is accounting nothing but a set of repetitive evidencing operations, which could be entirely handled by automatization of work??Aim: To present the areas of accounting in which economic entities are introducing or will introduce robotization and automatization of work and to describe those areas related to presenting data in annual reports which are not covered by information technologies.?Results: As a result of the conducted research, four fields were distinguished, in which the robotization processes will be implemented and human labor significantly limited, as well as those areas in which implementing robotization is currently impossible. Directions of further works on that topic have been presented for the perspective of next 5 years. In addition, the essence of narration in accounting and reporting was pointed to.