Smart Automation of Corporate Accounting and Reporting in International Business According to IFRS: Global Premises and Prospects for Russia

Abstract

The research focuses on the problem of the mismatch between the current approach to corporate accounting and reporting according to International Financial Reporting Standards (IFRS) and the new paradigm of international entrepreneurship development in Russia. The research aims to identify global prerequisites and prospects for improving the approach to corporate accounting and reporting of international entrepreneurship according to IFRS in Russia. Drawing on international experience in developing digital economies from 2021 to 2023, the authors apply regression analysis to create an econometric model of IFRS application in international entrepreneurship. The model determines patterns of changes in the investment attractiveness of the economy for foreign investments as corporate accounting and reporting in international entrepreneurship are automated using big data, smart analytics, and other digital technologies. The main authors' conclusion is that smart automation of corporate accounting and reporting in international entrepreneurship according to IFRS ensures an influx of foreign investments. The theoretical significance lies in developing a new approach to corporate accounting and reporting for international entrepreneurship according to IFRS in Russia. The practical significance is expressed in the perspective offered to enhance the attractiveness of Russia's economy for foreign investments through smart automation of corporate accounting and reporting for international entrepreneurship according to IFRS. This can be utilized, first, in the business practices of international entrepreneurship in Russia to increase investment attractiveness for foreign investors. Second, it can be utilized in the state economic policy to stimulate the influx of foreign investments into the digitalization of Russia's economy.

Citation

Popkova, E.G., Litvinova, T.N. and Zemskova, O.M. (2024), "Smart Automation of Corporate Accounting and Reporting in International Business According to IFRS: Global Premises and Prospects for Russia", Eshov, M.P., Abdurakhmanova, G.K., Burkhanov, A.U., Abdusalomova, N.B. and Ergasheva, S.T. (Ed.) Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS (Advanced Series in Management, Vol. 33A), Emerald Publishing Limited, Leeds, pp. 91-98. https://doi.org/10.1108/S1877-63612024000033A011