Professional Documents
Culture Documents
ISSN No:-2456-2165
Abstract:- This study examines cloud-based accounting For some years now, financial accounting has been
technologies, preparing future- ready professional well-thought-out as a well-known source of data in the
accountants. Two objectives and null hypotheses were establishments (Chua 2013). Hence, it is referred to as the
formulated to guide the study. A survey research design dialectal of businesses and their owners as it provides fiscal
approach was adopted for the study, 112 auditing firms in knowledge which help executives and investors in decision
Edo State and 73 students in accounting department for making process, in which the documents on financial
University of Benin was the population of the study. 7- position, profit statement, changes in equity and cash flows
point Likert scale was used to answer the two set of are circulated. In an ever challenging business era as of today,
designed questionnaire A and B. The Statistical Package accountants should always take advantage of the fast growing
for Social Sciences (SPSS) version 20.0 software packages technological resources to get their jobs done more
was used to analyses the data. The findings reveal that the proficiently as well as correctly. Ovidiu & Otniel (2013)
two hypotheses were significant to the dependent stated that the cloud technology is new application software
variables, therefore, the study recommended that firms that is synonymous with the association of accountants today,
should that more strategies on adapting cloud because of the modern ages and the increasing use of the web
technologies accounting and ensure training and and online trade.
retraining of professional accountants on the uses of cloud
technologies accounting as this will enhance the Ozdemir & Elitas (2015) aver that the advancement of
knowledge in all their activities for effective and efficient cloud accounting is varying consumer anticipations and
performance in financial information by making them accountants are reconsidering the ways and methods of their
reachable to owners and employees everywhere with an function and operation to meet the current reality, often
Internet devices. It is further recommended that since demanded on them. Individuals are ready now ever than
cloud accounting is been taught in the university more before not to be paying attention to the manual handwritten
effort should be made by educators to domicile cloud paper work in their business; rather wants to concentrate on
accounting in accounting curriculum in our higher the things they are zealous in finding how to enhanced work
institution as this will enhance the students’ performance and life incorporation. With cloud computing, accountant up
in their place of works as the business world and to the hour and even minute can fully access and manage
environment is now a computer village. financial information on businesses.
Keywords:- Cloud-Based, Accounting, Technologies, The cloud is a podium to make data and software
Innovation, Professional Accountants. reachable online anytime, anywhere, from almost any device
having an internet connection (Shareef, Kumar, Kumar &
I. INTRODUCTION Hasin 2009). In cloud computing, users easily and effortlessly
get access to application software tenuously through the
Accounting as a discipline in this era cannot be internet or other network via a cloud application vendor.
imagined deprived of the sustenance provided by accounting Equally, in cloud accounting, data is stored in “the cloud”,
technology. It is a sector that is experiencing abundant where it undergoes modernization and is resent to the users.
revolution, fundamentally glimmered by enormous All operations are performed offline, and because of this the
improvements in modern know-how (Tahmina 2017). The business does not have to install and maintain software on
advanced cloud computing phenomenon has demonstrated its individual desktop computers (Shkurti & Muza 2014).
worth not just in the information technology industry, also in
the accounting profession (Osintsev 2013). Where a firm is Cloud based technology, is a present-day technology
be able to get its economic records assessed from the internet, that has introduced extraordinary inventive method to
with the assistance of a network. Assuming that records are connect specialists of account all over the world. Cloud
not kept locally, its means that record keepers, the accounting has been realized as a way of carrying out
commercial owners and other interested partners can work activities easily (Dimitriu & Matei 2014). It has also reduce
together in a digital environment and easily distribute the use of un-modernized in-house technology infrastructure
financial data irrespective of their locations (Otilia & Marian thereby dropping preliminary and maintenance charge of
2015). administrations (Ebenezer, Omane, Antwi & Kyei 2014)
Brandas, Megan & Didraga (2015) reaffirmed that Shkurti et al (2014) conducted a research of specialists
accountants requires being receptive and understanding of in the discipline of accounting in Albania. Data gather point
contemporary and upcoming digital technologies, in other to out that 74.2% of the respondents are up-to-date about cloud
harness their potential benefits. Where a drastically, eventful, technology, out of which 57.6% acquired this facts from the
and experience progress is to be made in accounting, university based on courses taught,7.5% of respondents say
accountants must reason beyond the traditional method and that they became aware of cloud accounting through
give technology a chance (Dimitriu et al 2014). Chua (2013), professional trainings in organizations where they are
Shkurti et al (2014) has further admitted that cloud computing employed. While, 34.9%, agree that they received theirs from
is gaining ground in accounting since it introduction as a other sources. Only 25.8% of respondents have answered that
voluntary solution for accounting and financial reporting they have no information about this technology.
needs.
In the study of Ebenezer, et al (2014) where to ascertain
Asiaei & Rahim (2016) stated that many accounting the possibility of applying cloud computing for accounting
packages providers have already accepted cloud computing purposes taking Ghanaian accountants as a case study. They
technology in their different line of products delivery. To found out that 64% knows cloud computing and it
sustain this accounting professional, facilitator, software usefulness.100% of the accountants believed that cloud
developers, should keep trainings and retaining on the newest computing can be used for accounting purposes. They
technology. The profession firstly, should achieve the insight expressed that caution should be the watch words since
regarding these forces that has redesigned the direction of the financial data are confidential. Fifty-two percent of
organizations. accountants in Ghana familiar with cloud computing have
confidence that cloud accounting would be different from the
Secondly, accountants are to evaluate the effects of manual accounting. Forty-eight percent (48%) did not find
changes in relation to the entire accounting procedure. Thus, any different saying that accounting principles will not
the impact of future change includes all accounting aspects, change but the practice would. Finally, 36% are not aware of
The survey conducted by Strauss, Kristandl et al. IV. ESTIMATION RESULTS AND DISCUSSION
(2015), found that cloud technology is used by managers at OF FINDINGS
all levels, although operational managers (71%) were more
likely to use it than senior managers (29%). Data Analysis and results
The data collected were analyses as reflected in the
The study of Shkurti and Muza (2014), supported other tables below
researcher that 57.6 percent of participants of the survey have
obtained information about cloud technology from university Table 1: Awareness and acceptance of cloud accounting
learning in that regards and 7.5 percent from professional 1= Strongly Disagree 1 2 3 4 5 6 7
training and the rest from many other sources. 2= Quite Disagree 3=
Slightly Disagree
Hypotheses 4=Neutral 5= Slightly
The subsequent null hypotheses were formulated; Agree 6= Quite Agree
H01: there is no significant relationship on the current level 7= Strongly Agree
of awareness and acceptance of cloud accounting among Improvement of my 2 6 10 0 14 38 45
accounting professionals firms in Nigeria job performance rest
H02: there is no significant relationship on the importance of on cloud accounting
learning cloud accounting among accounting students in Productivity in my 0 4 14 1 11 25 60
University of Benin job is a direct
reflection of using
III. METHODOLOGY cloud accounting
my effectiveness in 2 3 9 1 15 65 40
This study used a survey research design approach to my job depends on
examine the current level of awareness and acceptance of cloud accounting
cloud accounting among accounting professionals firms as Relevance of cloud 66 39 2 1 1 2 4
well as the importance of learning cloud accounting among accounting do not
accounting students in University of Benin. The population have any bearing on
for the study consists of 112 auditing firms in Edo State made my job
up of managing partners, audit managers, tax managers, Persons using cloud 1 3 8 0 16 41 46
practitioner assistances, practitioner in-training, financial accounting are more
accountants, management accountants, and internal auditors prestigious compel to
and 146 final year students from department of accounting other that do not use
university of Benin. In determining the sample size for the it
study, the researchers used the judgmental sample techniques