THE ROLE AND IMPORTANCE OF ACCOUNTING IN THE MODERN ECONOMY

Authors

  • Umurzokov Odiljon Andijan State Technical Institute 4th-year student in Accounting and Audit program

Keywords:

accounting, modern economy, financial reporting, management decisions, economic analysis, information system, digitalization, audit, financial stability, business operations.

Abstract

This article examines the role and importance of accounting in the modern economy. The purpose of the study is to determine the role of accounting in business operations and its significance in economic decision-making. In the course of the research, analytical and comparative methods were used, and the study was conducted based on scientific literature and practical data. The results showed that accounting is an important tool for ensuring the reliability of financial information, efficient use of resources, and making management decisions. In conclusion, it can be stated that improving and digitalizing the accounting system in the conditions of the modern economy further increases its effectiveness.

References

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President of the Republic of Uzbekistan. (2022). Decree PF-37 on measures to engage youth in entrepreneurship and vocational training. Tashkent.

Ministry of Finance of the Republic of Uzbekistan. Collection of regulatory documents on accounting and auditing. Tashkent.

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2020). Intermediate Accounting (17th ed.). Wiley.

Harrison, W. T., Horngren, C. T., & Thomas, C. W. (2019). Financial Accounting (11th ed.). Pearson.

Needles, B. E., Powers, M., & Crosson, S. V. (2018). Principles of Accounting (13th ed.). Cengage Learning.

Epstein, B. J., & Jermakowicz, E. K. (2010). Wiley IFRS 2010: Interpretation and Application of International Financial Reporting Standards. Wiley.

State Statistics Committee of the Republic of Uzbekistan. Official Statistical Data Collection. Tashkent.

International Accounting Standards Board (IASB). (2021). International Financial Reporting Standards (IFRS). London.

Karimov, A. A. (2021). Basics of Accounting. Tashkent: Iqtisodiyot Publishing House.

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Published

2026-05-08

How to Cite

Umurzokov Odiljon. (2026). THE ROLE AND IMPORTANCE OF ACCOUNTING IN THE MODERN ECONOMY. Ethiopian International Journal of Multidisciplinary Research, 13(5), 594–597. Retrieved from https://eijmr.org/index.php/eijmr/article/view/6679

Issue

Vol. 13 No. 5 (2026): Ethiopian International Journal of Multidisciplinary Research

Section

Articles