DIGITAL TRANSFORMATION OF ANALYTICAL AND FORECASTING TOOLS IN FINANCIAL ACCOUNTING: CHALLENGES, OPPORTUNITIES, AND DEVELOPMENT PROSPECTS

Abstract

This article examines the digital transformation of financial accounting, focusing on its shift from a historical recording function to a predictive and strategic tool for modern business management. Driven by technological change and economic volatility, this transition requires integrating analytical and forecasting tools. The study explores the challenges and opportunities of adopting artificial intelligence, machine learning, and big data.
Using analytical and comparative methods, the research reveals a fundamental shift from traditional spreadsheet models to integrated cloud platforms and AI-driven solutions. Machine learning algorithms enhance the accuracy of cash flow, profitability, and liquidity forecasts, while advanced visualization tools improve the communication of financial insights. The study also highlights the role of integrated ERP and business intelligence systems in creating a unified digital ecosystem for real-time control and planning, thereby enhancing strategic resilience.
The article emphasizes that the human factor is critical; the success of this transformation hinges on the digital literacy and analytical skills of accounting professionals, necessitating continuous training. Ethical considerations, including algorithmic transparency and the prevention of bias, are also addressed. The authors conclude that this transformation is a profound cultural and organizational shift, identifying future research directions in adaptive analytical models and hybrid decision-support systems.