Tural Nasirli

DIGITAL ACCOUNTING IN THE INDUSTRIAL AND SERVICE SECTORS

Abstract

Thanks to digital accounting, which has revolutionized how businesses assess financial performance across industries, real-time insights and data-driven decision-making are now possible. Focusing on the industrial and service sectors, this study examines the profit and loss statistics of businesses in Azerbaijan from 1995 to 2021 based on economic activity. We highlight how digital accounting systems have evolved, how information and communication technologies are applied in financial reporting, and how the diversification of Azerbaijan’s economy is reflected in sector-specific profitability patterns. Using official statistics to compare the performance of the industrial and service sectors, our empirical research shows that while the oil-driven industrial sector dominates in revenues, the expanding service sector increasingly contributes to non-oil economic efficiency. We explore the implications for practitioners and policymakers in improving transparency and strategic planning, and our findings emphasize that digital accounting technologies are useful for monitoring sectoral development.