Factors affecting the intention to use cloud accounting among Sri Lankan accounting professionals

Abstract

Cloud accounting systems enable business owners to collaborate with their accountants daily to ensure that all transactions are up to date, making it much simpler and quicker to file taxes, accelerating the financial closure process and providing ease of compliance, accuracy, and a single source of truth. This research study was carried out to examine the factors affecting the intention to use cloud accounting among Sri Lankan accounting professionals. This study was primarily carried out by developing a conceptual model based on several aspects from various theoretical models of technology adoption. The sample of professionally qualified accountants in Sri Lanka was selected using the convenience sampling method. This study consists of six independent variables such as perceived usefulness, perceived ease of use, job relevance, trust, computer self-efficacy, and cloud accounting awareness. Data were collected from 167 Sri Lankan accounting professionals in 2021 via an online questionnaire and intention to use cloud accounting was considered as the dependent variable. The results of the study indicated that respondents use cloud accounting because of perceived usefulness, perceived ease of use, job relevance, trust, computer self-efficacy, and cloud accounting awareness. Further analysis revealed that job relevance and cloud accounting awareness are the most influential factors when using cloud accounting. Sri Lanka could gain a competitive advantage if organizations adapted to these cloud accounting solutions since accounting professionals are well-versed in this phenomenon.