Abstract
The rapid advancement of digital technologies has fundamentally transformed the operational and economic environments within which modern organizations function, resulting in an unprecedented growth in the generation, storage, and utilization of data. Across industries, organizations increasingly rely on vast amounts of structured and unstructured data to support managerial decision making, enhance operational efficiency, strengthen customer relationships, and foster innovation. As a result, data has emerged as a critical organizational resource capable of generating significant economic value and sustaining competitive advantage. Despite this growing importance, conventional accounting frameworks have not evolved sufficiently to recognize and measure data as an organizational asset within financial reporting systems. Most existing accounting standards were developed during industrial periods when tangible assets dominated corporate value creation, which has led to a situation where many internally generated digital resources remain largely invisible in financial statements. This disconnect has created a widening gap between the economic value produced by data driven organizations and the information communicated through traditional financial reports. This study examines the role of accounting in managing data as a strategic asset in modern organizations. It explores the conceptual foundations for viewing data as an economic resource, analyzes the limitations of traditional accounting frameworks in capturing data driven value creation, and evaluates emerging approaches that may enable accounting systems to more effectively represent the strategic importance of organizational data assets. The study also considers the implications of these developments for accounting practice, particularly in areas related to data governance, digital reporting systems, and the evolving role of accountants in managing and safeguarding organizational information resources.