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Cloud Accounting and its Adoption in Sultanate of Oman
Firas Nabeel AlSulaimi, Nurs Ahmed Al Maqbali, Malak Sulaiman Al Hashami, Mohammed Babiker Mohammed Ahmed
Oman College of Management and Technology, Administrative and Financial Sciences Department
DOI: https://dx.doi.org/10.47772/IJRISS.2024.804293
Received: 04 April 2024; Revised: 22 April 2024; Accepted: 26 April 2024; Published: 25 May 2024
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.
Keywords: CA, ERP, Accounting Software, Traditional Accounting, Computerized Accounting.
Accounting profession is currently and day after day has a great development in technology that changes the way accounting that is used to meet new demands. The global digital economy has been developing in recent years, gradually becoming an effective driving factor for economic progress. Oman has joined the digital economy, which is driving economic progress. Cloud accounting is the most interesting development in the accounting business in recently. This has allowed governments and businesses owners to work on the same system at the same time, regardless of where they are. The most feature distinguishes cloud accounting as a distinct business model is the ability to present the current financial situation of the organization. They are no longer tied to the paperwork and are more focused on what they need (Khanom, 2017). Moreover, the cloud accounting system is safer that can secure their financial data. For example, Profit Books and other cloud accounting software maintain strict security requirements (ProfitBooks, 2017). Many people in Oman are unfamiliar with cloud accounting, and there has not been enough research done on the subject. As a result, further research into cloud accounting is required to promote cloud accounting in Governments and enterprises as well as for personal usage. Moreover, the ability to make accounting information available to interested users via the Internet within 24 hours by accessing all financial data through accounting processor applications and from any device with an Internet connection, this cloud allows for the storage and processing of complex accounting functions, as well as the preparation of periodic financial statements and many operations in any time and easily. (Netsuite, 2021) So, because of these advantages which offers in the cloud accounting system is in high demand among institutions worldwide to using the system of accounting cloud. Therefore, the Cloud accounting implies a more efficient compliance process, less chances of duplication or other errors, and the flexibility to spend more time advising customers on how to sustain and expand their businesses.
Research Questions
Research Objectives
The objectives of this study are to:
Statement of the Problem
As we know that accounting has many challenges and difficulties in the accounting work and that must providing highly qualified accountants and this is very cost and also not adopting the modern accounting system which is cloud accounting in many government agencies and companies may cause many errors by accountants as well The extent to which accounting information is exposed to theft, lost or natural disasters, and the difficulty of accessing accounting information in the right time, as well as the traditional accounting takes a lot of time to accessed on it in all departments. So, the modern accounting which called cloud accounting must be used to protect all information from damage and to work efficiently and adaptation on government and privet sector. Moreover, the Accountant professionals whatever in government institutions or companies are not aware with concept of Cloud accounting and they do not have a lot of knowledge to deal with accounting cloud.
Scope of the Study
This study aims to have a lot of knowledge about the meaning of cloud accounting with using methods of description. Moreover, the study will look at the advantages and risks of cloud-based and aware accounting. As a relatively new phenomenon, it is challenging to assess how quickly accounting professionals are adopting cloud-based accounting. It is also difficult to assess the potential effects of cloud accounting on the future of the accounting profession. At the same time, it is important to raise awareness of and draw attention to the burdens that cloud accounting technology may replace in the accounting profession. Moreover, This study helps the government and privet sector organization to use the modern accounting due to easier than the past way and that better and its provide a large storage for financial data and can access to the information which related to the accounting or department of finical on organization. Therefore, must all government and firms be using the accounting cloud especially in Oman to match the Oman vision 2040. According to the limitation the cloud accounting, it was discovered that no further research and information on cloud accounting had been conducted in Oman. On other hand, the previous Literature reviews does not go into detail on how the accounting cloud works. Second, the research concentrated on the benefits of the accounting cloud, with no discussion in deep of the disadvantages of its usage. Furthermore, no information was supplied regarding the rules governing cloud Accounting and its obligation; prior research focused on the usage of cloud accounting in businesses but did not include adequate information about how it is employed in government institutions.
According to Lutfi’s (2022), study the financial institutions in poor countries like Jordan have a lot to gain from cloud technologies like cloud accounting information systems. Despite this, little study has been done on the practicalities of using cloud-ERP. Financial organizations face serious problems with ICT implementation culture, such as a lack of understanding of cloud accounting information systems, which inhibits them from improving their competitive positions. Research on small and medium-sized organizations (SMEs) is thus required to fill this knowledge gap and instill a culture of cloud accounting information system adoption in these businesses. (Safaa Ahmad, 2022)
Liping Ou and Zhixin Zhang (2021) discussed about the challenges of adopting Cloud Accounting discussed about The Challenges of adopting Cloud Accounting one of the challenges which faced the firms to using is Accounting cloud provides a lot of ease for firms to innovate accounting informatization, but it also causes a lot of challenges in the professional accounting industry’s development. The security of the Internet on cloud accounting is an unavoidable major issue that limits the development of cloud accounting. Another issue is the Network when using the cloud accounting Frequent data storing and reading huge amounts of accounting data might generate network congestion issues such as latency. Accounting cloud application relies on network transmission capabilities because it is built on the Internet platform. The amount of the network bandwidth limits the effectiveness of Internet cloud accounting information delivery. The answer to this challenge must be built on developing Internet technology, which will provide enormous servers for cloud accounting. (Zhang, 2021) In addition, Walakumbura (2021), discussed about accounting experts in Sri Lanka have a firm awareness of and acceptance for cloud computing. Data from 149 private sector accounting specialists has been gathered for this purpose. By using factor analysis, the author concluded that the primary reasons for the non-using of cloud accounting were that it was not well-liked among accountant, there was less data confidentiality, and there was a lack of faith in Internet-based services. The major reasons for the adoption of cloud accounting were unlimited and easy geographical access, limitless storage, processing capability, and auto backup, predefined interfaces for the preparation of accounting reports. The study’s results also showed that respondents who were not familiar with cloud accounting were curious to learn more about it. (Pandey, 2022)
Shallal AlMutairi (2021) claims that the burden on the accounting profession has risen because of COVID-19, as organizations lack the full capacity to disclose information in accordance with the law, as a result of decline and the inability to obtain clear and accurate data, and as a result of these factors and others. The study also showed that the accounting sector gains from this knowledge, which calls for creative managerial approaches and solutions. The need to adopt cloud accounting, as a potential solution to the numerous issues associated with accountants performing their duties in a pandemic era is undeniable, according to the findings of several studies conducted to explain the responses of the accounting profession to the Covid 19 pandemic. As a result, accountants must provide value by resolving present and prospective difficulties by using the new technologies such as accounting cloud. As a result, this digital technology is a must-have for professional’s accountants to prosper and remain in business during the pandemic era. (Agwor, 2022)
According to Gilbert (2020), The newest accounting technology, known as cloud accounting, can access accounting data and information without the need for tangible data like hard disks. In order to obtain the data and information they want, consumers merely need internet connectivity. Until 2023, the worldwide cloud accounting industry anticipates a growth of $4.25 billion. Companies who utilize cloud accounting have five times as many clients as those that do not, which indicates that there is a huge market for learning cloud accounting techniques. This encourages college students, especially aspiring accountants, to learn cloud accounting as early as possible.
According to Hukmaram Pawar (2020), in a study on cloud accounting practices in India, the author concludes that these services are necessary in the current e-commerce and digital world since they add a new dimension to the area of accounting. Cloud accounting streamlines and conveniently handles business administration and transaction processing. With the use of the internet and a computer, one is able to handle their transactions, information, and business from anywhere on the planet. (Chandra, 2022)
Ning Yangyang et al. (2019) to examine cloud accounting by Big data technology has been used in a variety of areas of contemporary business management, having a significant influence on conventional management accounting. They discovered that accounting data security has the greatest impact on cloud accounting, with little or no impact from network or system security. (Gao, 2020)
According to Ministry of finance of Oman (2019), A cloud accounting which called Maliyah system for managing public finance in the Sultanate of Oman, which will be utilized for budget preparation, implementation, control, and reporting. This system will also help to apply best practices in financial management to make the optimum use of financial resources in accordance with Oman Vision 2040. The decision-making process in accounting needs accurate and integrated information when requested, so the cloud accounting system in Oman or which called Maliyah system will provide financial information quickly to accountants and management, and this will contribute to raising the efficiency of work and financial resources and help accountants to accelerate work with high quality in government institutions. (Finance, n.d.)
Regarding to Needleman; T (2018), Cloud accounting is a type of electronic accounting in which cloud technology is used to create a virtual online accounting information system to fulfill corporate accounting and accounting administration. (Li, 2021).
Furthermore, Mohanty and Mishra (2017) achieved results from research that the benefits of cloud accounting in the enterprise such as, access is easy to the website, fast, anywhere, and data storage is secure. Activities take place online, but cost efficiencies such as software installation and required application updates, labour costs, business sustainability such as automatic data backups, increased productivity, and easier cash flow management. However, the study stated that the use of online accounting has the following the other risks Sustainability of online accounting application providers who bear the risk of unilaterally terminating online services, the risk of Internet services being unavailable if they do not have access data, and the data security risks that may arise from third-party threats that damage the company. (Bosoteanu, 2016)
According to Khanom (2017), cloud accounting provides advantages that accountants may experience in terms of cost savings, real-time information delivery, data access from anywhere at any time, superior security than desktop software, and automatically generated backups of their data automatic. However, behind these benefits, it is discovered that there are risks that users could encounter due to mistakes made by both users and developers. These risks include issues involving sensitive company information, downtime from network outages, network security that is free of hackers or viruses, and ultimately, accountants are hesitant and lack enthusiasm to accept this cloud accounting. (Frihardina Marsintauli, 2021)
According to Kadian (2017), there are several other benefits to adopting cloud accounting over traditional accounting, including the ability for cloud accountants to communicate with customers and subordinates to work on the same file from various places, which will increase the appeal of the cloud among clients. Additionally, cloud accountants may deal with accounting data without having to rely on local systems, saving them money on the setup and maintenance of local equipment. Additionally, Cloud can link with online bank and payment accounts more effectively, enabling automatic financial transaction listing and minimizing data mistakes on the accountant’s end. Furthermore, Cloud accountants have 24/7 access to accounting software and data from any location. (Ahmed, 2020)
Glogi (2016) research on the use of cloud accounting in that country concluded that it is still not widely used. They advise spending as much money as possible on marketing and spreading awareness of the advantages of employing this accounting. (Vinšalek Stipić, 2022)
According to Wyslocka and Jelonek (2015), cloud accounting can handle financial data without being constrained by access time or place. The capacity of cloud accounting to manage this information data is compatible with the viewpoint that information technology ought to be able to handle information input data. (Vero Deswanto, 2021).
As a result, related to Molnar and Schechter (2015), one of the risks which related to the cloud basis on accounting causes is the Human resources that organizations have not accepted is that those who manage and lead the system must have the technical knowledge and expertise to meet and utilize the system. People must be recruited via direct means, and all essential precautions must be made to prevent personnel from transmitting customer data to hostile third parties. (Elitas, 2015) Also, the study of Prichici & Ionescu (2015) looked at the importance of employing a cloud accounting system during the financial reporting process. Furthermore, by integrating cloud accounting in the business, inventory management becomes more flexible, transparent, and on a wider scale. (Khanom, 2017)
Regarding to Ogunjobi (2015) asserts that the reason for the resistance is their reluctance to entrust a third party with the administration of their technological assets. The most effective and long-lasting means of offering online data services to the target market is through cloud accounting technology. To reduce capital and operational costs due to the high cost of maintenance, it is important to outsource these duties. (Agwor, 2022)
According to the concept of cloud accounting system by Tugui and Gheorghe (2014) define of the cloud accounting by as “an accounting software application that can be utilized at any time and from any location with an Internet connection, and that does not require previous installation, maintenance, or its own servers.” (Bosoteanu, 2016)
The following advantages of cloud accounting, by Dimitriu and Matei (2014), which include Savings, improved communication, and collaboration among users of financial data, improved access to financial data regardless of location, capacitive and limitless processing and storage, automated data backup, and upgrade fee absence all contribute to improved organizational performance. Also, implementing cloud accounting has several key benefits, including flexibility, automatic upgrades, and the ability for accounting professionals to respond more quickly to more complicated problems and requests due to the use of external, virtual data centers where these applications are stored. (Boșoteanu, 2016)
Ebenezer et al. (2014) did research stressing the significance of cloud accounting in Ghana’s corporate sector. A poll was conducted, and it was discovered that 64% of the participants, all of whom are accountants, are aware of cloud accounting and feel that it may enhance the existing company scenario. However, 91% agree that cloud accounting may bring some hazards. (Sobhan, 2019) Moreover, Tugui and Gheorghe (2014) describe cloud accounting as “an accounting software program that can be used at any time and from any location that has an Internet connection, and that does not require prior installation, maintenance, or its own servers”. (Boșoteanu, 2016)
Cloud accounting system, according to Shaban Mohammadi and Ali Mohammadi (2014), will be widely adopted. They compare the benefits and drawbacks of cloud accounting to traditional accounting. Cloud accounting, for example, may speed up time, follow without physical presence, and link to other computer systems, but it requires a continual internet connection and does not perform well at low speeds. (Gao, 2020)
According to Qasim and Abu-Shanab (2014), based on a study of the literature, cannot use the public cloud which are one of the types of cloud accounting for governmental entity and financial organizations like banks and investment companies because of severe some dangers that exceed the advantages. Furthermore, they agreed to use the public cloud for small and medium-sized businesses enterprises due to having less expenses and need small budget to start the accounting system inside the accounting department of the business. Also, some interviews were conducted in Australian institutions and small projects, which explained the level of fear and anxiety about using this new technology within their companies. (Yau Yeung, 2017)
Furthermore, according to Păcurari and Nechita (2013), Another feature that distinguishes cloud-based accounting from other models is the ability to present the current financial situation of the organization. Relevant and up-to-date information is critical for every economic choice, especially in today’s highly competitive and demanding environment. Businesses can expand or contract at the same rate, depending on their capacity to innovate and adapt to the finest current technological framework. (Otilia Dimitriua, 2015)
According Tulsian (2012), to cloud-based accounting software may provide businesses the ability to change their client relationships. Accountants can provide real-time, precise data that can be accessed by business partners from any location with an internet connection. Companies can reduce the hassle of moving data like papers or documents back and forth by cooperating process that is costly, time-consuming, and unsafe. Clients may simply pay invoices online with better remote access, and other business partners can use current financial data to make strategic business choices. There is a clear opportunity for accountants to act and contribute significantly to the development of a new level of business knowledge that has the potential to significantly improve corporate performance. (Otilia Dimitriua, 2015)
According to Mihalache (2011), implementing cloud accounting has several key advantages, including flexibility, automatic upgrades, the ability for accounting professionals to respond more quickly to problems and requests that are more complicated due to the use of external, virtual data centers where these applications are stored. (Boșoteanu, 2016)
According to Du & Cong (2010) highlighted Through cloud computing services, managing a company’s accounting may also become simpler. In this instance, discuss in cloud accounting, a cutting-edge idea in the handling of accounting data. The firm receives online access to the accounting software, which can be accessed from any mobile device. The business gains top-notch apps, cutting-edge technology, and automatic upgrades in this way. However, the majority of consumers are concerned with data security and the resiliency of cloud services. As a result, providers are likewise worried about these problems and call for standardization, which would undoubtedly increase customers’ faith in cloud services. The worldwide organizations for standardization share this mind-set, whether they are active in supplying standards in IT such as, Cloud Security Alliance, European Network and Information Security Agency. (Doina Păcurari, 2013)
According to Weinhardt et al (2009), Businesses and organizations that include sales through agents or establishments dispersed over an area might greatly benefit from cloud accounting. Applications in the cloud enable online contact between any two places, the collection of data and its real-time centralized processing for inventories, sales, and payments. Managers may access the whole database at any time, from any location, giving them improved access to information about how the business is doing. Practically, the cloud may make it easier for a business to obtain an enterprise resource planning system with excellent performance, depending on a monthly fee. From the foregoing, it is clear that businesses may greatly increase their productivity and ability to meet customer expectations by using cloud computing as a service. These days, having a rapid reaction time may have a significant impact on the corporate world. (Doina Păcurari, 2013)
According to Arsenie-Samoil (2011), cloud accounting is an elastic system solution that result to no need to pay a lot of money for the accounting software application. the cloud accounting can have accessed in it only by a connected to an internet and using the browser of the cloud with username and password without any efforts and less cost that can using to all accounting processing particularly for stock management. (Yau Yeung, 2017)
Using secondary sources, we implemented the data collection method. In order to obtain a quantitative critique on the customization, challenges and focus points of artificial intelligence in accounting methods.
The hypothetical system of study and historical framework will be presented through secondary data extracted from textbooks, reports and school articles. Consistent quality and legitimacy of findings will be developed through this triangulation of information sources. Drawing on the rich data set obtained through this rigorous research methodology, the next chapters will examine the analysis of information and discoveries.
This research uses secondary data for data collection because it is easy to find out from different sources and obtained from cloud accounting property such as articles, books, newspapers, online libraries, and websites of companies which using the cloud accounting which followed by some research previously analyzed and filtered in similar studies. Collected the accurate data from many sources such as websites of institutions which using the accounting cloud features and from research articles, government publications, books, and from data available on the internet and reports with journal that related to the cloud accounting then analyses and summarizes all data in order.
The Data analysis is a way to get accurate information about cloud accounting. In the study, reliable previous studies will be used. Therefore, the data will be displayed in accounting cloud technology. In addition, the study will show some data to describe and analyze in a very simple way which conduct through concept of accounting cloud.
Pros of Cloud Accounting
Cloud accounting has many important advantages and benefits identified some of advantages adoption by companies and organizations as described below (Lafta, 2022):
The following (Figure 1) (Thomas, 2019) provides some of the benefits of accounting cloud by simple way.
Cons of Cloud Accounting
The movement toward cloud accounting includes some drawbacks that highlighted by many authors as following: (Ahmed, 2020)
Control – If a business relies on cloud accounting software, it will be at the mercy of the firms that created the cloud of accounting. on the contrast that the organization which operate the cloud software of accounting dose not save the data and financial information in any part only on the cloud, which could lead to issues like aversion to these programs like cloud system related on accounting.
Data loss or Leakage – one of the disadvantages of cloud accounting is the potential for data to be lost or leaked without authorization. Having sensitive data improperly accessed, losing the cryptographic key unlinking the log from the larger context and not performing backups.
Reliability and Compatibility – the Internet serves as the main nerve of cloud accounting technology, which is a major concern for institutions because any unexpected outage of the Internet could result insignificant losses for the institution. Moreover, sometime there are few issues on the system of cloud even the greatest cloud services had issues of this nature while maintaining excellent maintenance standards.
Hackers Malignancy – This severe concern exists for companies that employ cloud technology for their accounting activities. Staff and employees frequently lack a thorough awareness of the rules and regulations of third-party cloud software service providers, which makes them vulnerable to attack by hackers who want to access the data and information of the institution without authorization. (java T point, n.d.)
Traditional Accounting Vs Cloud Accounting
A huge benefits of cloud accounting that most enterprises are currently adopting it and they have established this new model of accounting on their firms and governments in gulf countries as well as in many advanced countries and they have become to differentiate between the traditional way of accounting such as accounting information system software and the cloud accounting, the following table )Table 1) will illustrate the traditional accounting in comparison to information system of accounting and the cloud accounting.
Traditional Accounting | Cloud Accounting | |
Cost | It costs a lot of money to get its applications, from where to buy the hardware and software to managing the system and paying for upgrades and maintenance. | Low initial investment is needed. Either the provider of Services is responsible for the Upgrade and maintenance costs for programs that are created and accessed via the Internet. |
Flexibility | Because it needs improvement, it is less streamlined and adaptable. separate group work file, rarely needed. | More adaptable because it makes accounting data accessible from any location and on any device with a secure internet connection. |
Safety | It is less secure than the cloud because it is affected by human action like errors of accounting records. | More secure than software installed locally by using encryption, backup restoration, and other security measures, cloud service providers keep your data safe. |
Personalization | It is installed according to business needs | It runs on a large scale and cannot be customized for the specified work |
Backup | Only local information which can obtain which storage in papers and software. | Easy to back up the financial information by accessing the cloud without any problem. |
Requirements for Using Cloud Accounting
The use of cloud accounting and its adoption does not require many features and large resources, as is the case in traditional accounting, as it is considered very simple compared to accounting programs, which are classified as follows:
The device, which can access to the cloud accounting by it and necessary to be connected to an internet to take advantage of existing, services. Whether it is for the customer or the service provider in the organization, but it is preferable that the devices inside the organization be fast and have a high internal space and storage due to the huge accounting transactions and operations such as computers devices.
An internet connection which is the most important requirements for cloud accounting due to the cloud accounting services cannot working without connection of internet. Also, the broadband of internet may affect the speed of work in organization so the entity which they want to adopting cloud model must select the better broadband internet connection for efficiently work with high of quality.
Website of cloud accounting is also the one of requirements for companies and firms which thinking to use the cloud accounting. It is a common tool for accessing the services in the accounting cloud, which can be accessed automatically and easily with several browsers easily available by any smart device, laptop, or computer. The cloud browser is a link between the user and the cloud.
The cloud accounting provider or operator is the company that provides the cloud service through the website, and it must be reliable and have a very strong server to carry a lot of accounting data and provide the most efficient services easily. Moreover, it must solve any technical problem that may affect the website.
Risks and Challenges of Cloud Accounting
There are some of the challenge and risks which faced by the accountants and public by adopting the new model of the cloud accounting. One of the major challenges through using the cloud accounting is issues faced by employees in business financial accounting This is due to the high standards for the caliber of cloud accounting technology professionals, who also need more experience on computer and financial accounting and more strong management, innovation, and development skills (Huang, 2016). Furthermore, when using cloud accounting technology, the internet connection may not be achievable, especially in areas with poor network coverage where a device cannot connect to the internet that make the work of accountant not efficiently and with later of doing the work of financial services. Other risks of adopting this technology are many businesses and organizations are concerned about transitioning from traditional financial systems to something new, such as cloud accounting, which has a new model and process for software updates, ownership and location of financial data, backup and recovery, availability, security, and acclimating to a new system. However, the ensuring data integrity is one of the biggest risks facing governments, as hackers can access government financial data for commercial or political purposes between two countries. In addition, it is difficult to transfer financial data from an application to cloud accounting, which assists in understanding the steps a business must take to migrate its data to the cloud. We commonly find firms that fail to realize or are not rigorous in their understanding of the quantity of labour necessary. A smooth transfer procedure, as well as the efforts taken by the cloud accounting provider to achieve it. On other hand, Application running slowly by the Cloud accounting is one of the challenges which the cloud has been built to function with Internet. As a result, the upload and download big files speeds of the Internet connection influence the usage of cloud services concurrently in the workplace at some time especially in the public accounting cloud. As well as the problems related to the human resources department and companies that evade taxes, as well as the failure to disclose the real information and data that is entered into the accounting cloud may constitute a major obstacle in not adopting the cloud in the institutions of Oman. (Zhang, 2020) One of the risks that accountants face in using cloud accounting in companies is the total dependence on the cloud, and therefore the number of accountants in the entity may decrease. Perhaps the company may abandon them and rely on only one accountant to facilitate the accounting work in the cloud because of the easy services and Quick can be played by one or two people at least. as of all of the risks of cloud related to accounting can determine the main problem of adopting this technology is lack of integration in knowledge and administration and also the fear in security and privacy of financial data whether in small and medium enterprise or governments that obtain is a big challenge to adopting in their financial departments. (Aini Aman, 2017)
There are many of the results was founded from all data which analyzed and summarized from the previous studies and articles, which serves many companies and others, and the extent of its benefits was like the following:
In conclusion, by the research and articles which related to the cloud accounting and adopting in governments and firms which summarize can conduct that Continuity and growth in business among is the most important goals by all institutions that use modern technologies to achieve efficiency in work. From this platform, we can point out that cloud accounting is one of the distinctive inventions that make small and large institutions effective with customers and make the entity work smoothly. The accounting system has become more sophisticated using cloud accounting, which is characterized by accessing and processing data immediately and at any time without effort and storing all information in the storage unit, which helps the administration to access it from the cloud and take the appropriate decision as quickly as possible. At the same time, cloud accounting its comes with it a slew of potential problems for businesses. These hazards originate from the fundamental properties of cloud technology and the Internet, but the growth of cloud accounting conforms to the requirements of a new business model for financial management development. The use of cloud accounting broadens the field of competition between institutions and various governments by lowering many of the costs of maintaining and updating old accounting programs, and this contributes to the development of institutions, particularly in providing financial and accounting services with ease and convenience. After consideration at cloud accounting, it can be said that it has strong elements and functions that can positively affect the accounting entity, and with the passage of time, accounting can be adopted for all institutions to organize the work in a stronger and better way. With the development of cloud accounting and its application to most companies and governments in the Sultanate of Oman, it may create a high economy in various aspects, despite the difficulties and risks of applying the cloud, for example, security risks and the Internet. Soon these problems may be solved after the spread of cloud accounting in most institutions. In the future, governments must study cloud accounting as a significant economic potential for providers many opportunities for clients which may use these new technological services, particularly in countries where the e technology government is formed.
The following are some recommendations, which conduct from this study of adopting the cloud accounting in governments and companies in Oman, and that recommendation must have followed by all ministries and firms to match the Oman vision 2040.
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