Improving Accounting for Settlement Account Operations in an Innovation-Driven Economy

Kamala Tahmazbekova

Abstract. The transition toward an innovation-driven economy has fundamentally transformed financial relations, accounting systems, and managerial decision-making processes. The rapid diffusion of digital technologies, electronic banking instruments, and automated accounting systems has significantly increased the volume and complexity of settlement account operations. Under these conditions, traditional accounting approaches are no longer sufficient to ensure the timeliness, accuracy, and transparency of financial information. This study aims to analyze the current state of accounting for settlement account operations in an innovation-driven economy, identify existing methodological and institutional limitations, and propose directions for improving accounting mechanisms based on modern digital technologies. The research applies a systemic and comparative methodology, drawing on Scopus-indexed a settlement account accounting, incorporating indicators of digitalization, automation, and real-time data processing. The findings demonstrate that the integration of electronic banking, ERP systems, Big Data analytics, and artificial intelligence significantly enhances accounting efficiency, financial transparency, and managerial decision-making quality. The results contribute to the theoretical and methodological development of accounting systems and provide practical implications for enterprises operating in innovation-driven economic environments.

Keywords: innovation-driven economy, settlement account, accounting systems, digitalization, electronic banking, accounting efficiency