Cloud Accounting as an Approach to Digital Transformation in Modern Organizations (Published)
This article lies in its contribution to highlighting the role of cloud financial accounting in achieving digital transformation of modern organizations. It helps organizations understand the advantages of implementing this system compared to traditional systems and clarifies the relationship between cloud accounting and improving the quality of accounting information. Furthermore, it supports decision-makers in adopting digital solutions that enhance business sustainability. Despite the significant advantages offered by cloud accounting, many organizations still face challenges in transitioning from traditional to cloud systems, whether due to concerns related to data security or a lack of awareness of the importance of this transformation. In addition to extent to which these institutions can employ cloud financial accounting as an effective entry point for digital transformation, and whether this technology actually contributes to improving financial and administrative performance, aim of the article is to study and analyse the impact of cloud financial accounting as an entry point for digital transformation in modern institutions, with a focus on the extent of its contribution to enhancing the efficiency of financial operations and supporting decision-making. article hypothesis that application of cloud accounting contributes significantly to achieving the digital transformation of modern institutions, by improving the quality of financial information, enhancing operational efficiency, and providing a sustainable competitive advantage. Among the most important result is that there is a positive relationship between the use of cloud financial accounting and the level of digital transformation in modern institutions, as well as the contribution of cloud accounting to improving the quality of financial reports, increasing transparency, reducing operational costs, and enhancing the efficiency of available resources.
Keywords: Digital Transformation, cloud accounting, modern institutions
Review of Management Accounting in a Digital Economy (Published)
The paper gives an overview of the transformation in management accounting practices in a digital economy. Advanced technologies such as big data analytics, cloud computing, artificial intelligence, and blockchain digitised traditional accounting ways by providing real-time data processing, enhanced decision-making, and strategic insights. The review focuses on how technological innovations have changed data collection, analysis, and reporting links, moving attention away from record-keeping to predictive and prescriptive analytics. Discussions are the automation of routine tasks, real-time financial reporting developments, and increased involvement of management accountants in strategic planning and risk management. The review talks about cloud accounting systems, machine learning in managing costs, blockchain for financial transparency and security, and how digital transformation opens up some critical challenges related to data privacy concerns, security risks, and massive upskilling on the part of accounting professionals. The paper addresses these issues by examining strategies to mitigate identified risks and bridging skill gaps through specific training and educational efforts. It further reviews the emerging trends in predictive and prescriptive analytics and discusses their potential applications in Management Accounting. The review sheds light on changing regulatory scenarios that will impact digital practices in accounting. The implications of this digital transformation are huge and thus require a rethink in the role of management accounting within organisations. It calls for management accountants to reposition themselves in the field and stay relevant by embracing new technologies while attaining strategic competencies, enabling them to drive value creation against the drastic changes in the digital age.
Keywords: Artificial Intelligence, Digital Transformation, big data analytics, cloud accounting, machine learning, strategic planning
Cloud Accounting and the Quality of Financial Reports of Selected Banks in Nigeria (Published)
This study investigated the effect of cloud computing on the quality of financial reports in selected deposit money banks in Nigeria. Software as a service (Saas) and Infrastructure as a service (Iaas), were the cloud computing proxies employed to ascertain their effect on financial reporting quality. Financial reporting quality (FRQT) was measured in terms of qualitative characteristics of financial report as provided by IASB conceptual framework. The research design adopted in this study was survey design because the data used was primary. The population of the study consisted of 450 respondents drawn from the ten different deposit money banks in Akwa Ibom State. However, the sample size of this study was 212 determined using Taro Yamane formula. Primary data were obtained through Likert 5-points structured questionnaire. In order to examine the cause-effect relationships between the dependent variable and independent variables as well as to test the formulated hypotheses, the study relied on a robust OLS regression analysis. The results obtained from the robust OLS regression analysis revealed that software has a statistically positive but insignificant effect on the financial reporting quality; infrastructure has a statistically positive and significant effect on the financial reporting quality. Thus, we concluded that cloud computing has significant effect on the financial reporting quality of deposit money banks in Nigeria. Based, on these findings, we recommended that banks should adopt cloud computing to accelerate innovation, drive business agility, streamline cost and most importantly increase the financial reporting quality.
Keywords: Financial reports, Nigeria, Quality, cloud accounting, selected banks
Qualitative Analysis on Costs and Benefits of Adopting a Cloud-Based Accounting Information System: A Case Study of Rural Banks in Ghana (Published)
The accounting and recording approach have been impacted by the expansion of the internet and the advancement of information technology. Cloud accounting is a result of the use of cloud computing technology. Cloud computing is growing in acceptance, and more companies are using cloud-based software to boost productivity and gain a number of other advantages. The purpose of this study was to learn more about the advantages and difficulties of implementing a cloud-based accounting information system. The study, which employed a qualitative approach, discovered that cloud accounting enhanced operations compared to using in-house software, increased accessibility of the banks’ services, and sped up customer turnaround time. High maintenance costs, network failure, trouble deciphering reported error codes, insufficient technical help, and system failure during an update are a few of the difficulties.
Keywords: Accounting Information Systems, and cloud information Systems, cloud accounting