IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 9 2024
DOI: 10.56201/jafm.v10.no9.2024.pg299.311

---

Integration of Cloud Accounting with Traditional Accounting in Business Organisations: Evidence from Ekiti State, Nigeria

Bamidele Vincent Olawale, Ogundipe Francis Bamidele & Olatunji Francis Opefolu

---

Abstract

Cloud accounting is an important development direction of the new generation of information technology, and it is also an important strategic opportunity for Nigeria's accounting information innovation. This study assessed the need for integration of cloud accounting with traditional accounting in business organisations in Nigeria. The study explained the concept of cloud accounting, how cloud accounting works, the benefits of cloud accounting over traditional accounting, services provided by cloud accounting, factors to be considered in adoption of cloud accounting, types of cloud computing models, need for adoption of cloud accounting, cloud accounting's effects on traditional accounting. Pearson moment product co-efficient and regression analysis were used to test the hypotheses, The findings of this study shows that there is a positive and significant correlation between Cloud Accounting and Traditional Accounting at 5%. (P=0.000<0.05) and the standard error value of 0.085. From the study, it was concluded that there is great need for integrating cloud accounting with Traditional accounting to achieve quality financial reporting on business organisations in Nigeria. It was also deduced from this study that cloud accounting does not only makes business easier, but also increases the productivity of the company accounting department and also assist businesses in maintaining their financial diversity and organization. The study therefore conclude among others that Since cloud accounting is a reality that will eventually impose itself, professional accountants should become more knowledgeable about cloud accounting, its application areas, and its impact on the accounting profession. They should also embrace this technology and integrate it with the conventional accounting rather than marginalize or resist it.

keywords:

Cloud Accounting, Traditional Accounting, Business Organization, Information

---

References:

Almaiah M. A., Al-Rahmi A. M., Alturise F., Alrawad M., Alkhalaf S., Lutfi A., Al-Rahmi W.M.,
Awad A.B. (2022) Factors influencing the adoption of internet banking: An integration of
ISSM and UTAUT with price value and perceived risk. Front. Psychol. 13(3), 91-98.
Alshirah M., Alshirah A., Lutfi A. (2021). Audit committee’s attributes, overlapping memberships
on the audit committee and corporate risk disclosure: Evidence from Jordan. Accounting
Journal, 7(2), 423–440.
Bizarro P, Garcia A. (2012). Cloud computing from an Auditor’s Perspective. Internal Auditing
journal 27(5). 10-7.
Buyya R, Yeo C, Venugopal S. (2008). Market-oriented cloud computing: Vision, hype, and
reality for delivering it services as computing utilities. 10th IEEE International Conference
on High Performance Computing and Communications. Dalian, China.
Carapinha, J. (2010). Network Virtualization – Opportunities and Challenges. Eurescom.
Coman, D.M., Ionescu, C.A., Duic?, A., Coman, M.D., Uzlau, M.C., Stanescu, S.G., & State, V.
(2022). Digitization of accounting: the premise of the paradigm shift of role of the
professional accountant. Applied Sciences, 12(7), 33-59.
Dimitriu, O., & Matei, M. (2014a). The expansion of accounting to the cloud. SEA-Practical
Application of Science, 4(2), 237-240.
Dimitriu, O., & Matei, M. (2014b). A new paradigm for accounting through cloud
computing. Procedia economics and finance, 1(3), 840-846.
Dimitriu, O., & Matei, M . (2015). Cloud accounting: a new business model in a challenging
context. Procedia Economics and Finance, 3(2), 665-671.
Efe E., & Joseph O. (2022). Cloud-based Accounting Technologies: Preparing Future-Ready
Professional Accountants. International Journal of Innovative Science and Research
Technology, 7(2), 879-889.
Esther, E, Omane, K. B., Timothy, A. & Michael, E. K. (2014). Accounting in the Cloud: How
Cloud Computing Can Transform Businesses (The Ghanaian Perspective). Proceedings of
the Second International Conference on Global Business, Economics, Finance and Social
Sciences (1-11). Mysore, India: Global Business Research Journals & SDMIMD
Gabrielsson, J., Hubertsson, O., Mas, I., & Skog, R., (2010). Cloud computing in
Telecommunications. Ericsson Review 1(4), 29-33.
Gupta, P., Sheetharaman, A., & Rudolph, J. (2013). Cloud computing-based accounting for a small
to medium-sized business, International Journal of Information Management, 33(5), 861-
Rao, Thirmal, M.; Jyotsna, T. G. & Sivani, M. A. (2017). Impact of cloud accounting: accounting
professional’s perspective. IOSR Journal of Business and Management, 7(3), 53-59.
Khanom, T. (2017). Cloud accounting: a theoretical overview. IOSR Journal of Business and
Management, 19(06), 31-38.
Lewis, J. S., Burks E, King E, Smolinski C. (2012). Cloud computing: items professional firms
consider in selecting data storage firms. Journal of Case Research in Business and
Economics 2(2), 1-12.
Mahalakshmi, A. (2017). Awareness of cloud accounting among accounting 33 professionals in
Bangalore City. International Journal of Business and Administration Review, 1(17), 169-
173
Rînda?u, S.M. (2017). Emerging information technologies in accounting and related security
risks–what is the impact on the Romanian accounting profession. Journal of Accounting
and Management Information Systems, 16(4), 581-609.
Walakumbura, S.H. (2021). An empirical study on cloud accounting awareness and adoption
among accounting practitioners in Sri Lanka. International Journal of Scientific and
Research Publications, 7(6). 45-60.

DOWNLOAD PDF

---

Back