Economic aspects, accounting and automation of the activities of enterprises of leading European countries

Abstract

Introduction. The leading European countries set high standards in enterprise resource management, actively implement innovative solutions, and use high-quality software for accounting, analysis, and taxation. As such, their experience can be relevant and applicable to other European nations. Hence, this research topic is of high relevance, as such studies contribute to improving the efficiency, innovativeness, and resilience of enterprises.

The aim of this article is to investigate the economic aspects, accounting practices, and automation of enterprise activities in leading European countries, particularly the United Kingdom, Germany, France, Italy, and Spain. 

Methods. The study employs both general scientific and specific research methods, including induction, deduction, analysis, synthesis, dialectical and systematic approaches. Induction and deduction were used to compare the legislative frameworks of developed European countries. Analysis and synthesis were applied to compare the taxation systems and various tax rates in the UK, Germany, France, Italy, Spain. The dialectical method was used to examine the effectiveness of IAS and IFRS implementation (adopted by the European Union) across different European countries. The systematic method facilitated the study of accounting and reporting in the context of automation in developed countries.

Results. The research findings pertain to the accounting and taxation systems of highly developed European countries. In particular, they concern the effectiveness of the standardization of accounting and reporting for enterprises whose securities are traded on regulated markets, as well as for national small and medium-sized enterprises. The analysis identified the countries with the lowest and highest tax rates in Europe. Moreover, the most widely used accounting software solutions in European countries were highlighted.

Prospects. European countries are actively introducing digital innovations into their economies. Thus, studying their experience has a positive impact on future research by Ukrainian economists, aimed at developing cooperation measures with European countries. The automation of accounting, management processes, and logistics is becoming a decisive factor in enterprise competitiveness. Therefore, identifying the most commonly used software solutions will help assess their advantages and disadvantages. Summarizing best practices in accounting and taxation systems enables the development of recommendations for enterprises in developing countries.