THEORETICAL AND METHODOLOGICAL FOUNDATIONS FOR THE ORGANIZATION OF ACCOUNTING AND AUDIT SYSTEMS IN THE HOSPITALITY INDUSTRY OF UZBEKISTAN

Abstract

This study explores the evolution and current state of accounting and audit systems in Uzbekistan’s hospitality sector, highlighting their importance in ensuring financial transparency and enhancing managerial decision-making. The hospitality industry, significantly impacted by the pandemic, faces unique challenges, particularly in managing seasonal demand and optimizing revenue generation. Through a combination of qualitative and quantitative methods, including surveys and interviews with financial managers, the research identifies gaps in existing accounting practices and proposes tailored improvements. The findings suggest that the current systems are inadequate for capturing the full scope of financial activities, particularly in relation to service diversification and seasonal fluctuations. The study emphasizes the need for a more robust and adaptive accounting system, one that integrates traditional principles with modern digital solutions, to support efficient management and strategic decision-making. Additionally, it calls for increased attention to the development of accounting and audit frameworks that align with international standards and local economic conditions. By addressing these gaps, the hospitality industry can better navigate financial uncertainties, improve profitability, and contribute to the sustainable growth of the sector. The study concludes with recommendations for implementing cloud-based accounting systems, enhancing regulatory frameworks, and providing continuous training for financial specialists to strengthen the sector’s overall performance and competitiveness.