Cloud Accounting and its Adoption in Sultanate of Oman

Abstract

Cloud accounting (CA) is one of the most trends of technology in the domain of accounting and financial services. The CA is regarded as one of the accounting models that helps to the advancement of the accounting profession around the world, particularly in the Sultanate of Oman considering the adoption of the accounting cloud in government institutions, companies and banks, many goals will be achieved, including accuracy and quality in accounting and auditing work with processing storing the financial information easily in the cloud accounting. Additionally, this study aims to identify the concepts and perspective of cloud accounting and how effect to the organization and accountants’ practices. On the other hand, determine the benefits of using the model of accounting cloud in the workplace that helps a lot of institution to move to this technology of accounting. Cloud accounting systems are less expensive than other programs and can be adopted with minimal effort, especially in SME’s that can access information from the cloud at anytime and anywhere by browser that connected to the Internet. Despite all these advantages, there are some risks such as security and fear of using a new accounting platform that delays the adoption of cloud accounting, and for those who, with the passage of time, these risks and limitations will disappear. Furthermore, this study will discuss the deep difference between the cloud accounting software’s and the manual accounting system to get more full knowledge and understanding about the cloud related to accounting to access to the public for the future of accounting. Therefore, it is recommended that inculcate the culture of cloud accounting across many platforms such as courses and conferences to adopting it as well as to improve the quality of accounting work for achieving the Oman vision 2040.