Cloud Accounting Adoption among Chartered Accountants: A Study on Perceived Challenges and Growth Opportunities

Abstract

Cloud accounting holds significant importance for the accounting profession and business management, revolutionizing how financial data is accessed, managed, and analyzed. One of the primary advantages of cloud accounting is its accessibility and flexibility, allowing Chartered Accountants (CAs) and their clients to access real-time financial information from anywhere, fostering collaboration regardless of geographical location. This accessibility enhances productivity and responsiveness, enabling CAs to meet client needs more effectively. Additionally, cloud accounting solutions are cost-efficient, eliminating the need for extensive IT infrastructure and reducing overhead costs, which is especially beneficial for small and medium-sized enterprises (SMEs) with limited budgets. This study investigates the perceptions of Chartered Accountants (CAs) in Ahmedabad regarding the adoption of cloud accounting, focusing on the perceived challenges and growth opportunities associated with this transformative technology. Cloud accounting has emerged as a revolutionary approach in financial management, promising benefits such as real-time data access, cost efficiency, and enhanced collaboration. However, the transition from traditional accounting practices to cloud-based systems is fraught with challenges, including data security concerns, cost implications, and a lack of technical expertise. Utilizing a structured questionnaire distributed to a sample of 230 CAs in Ahmedabad, the research analyzes the relationship between demographic profiles and perceptions toward cloud accounting. The findings aim to provide insights into how demographic factors influence the understanding and acceptance of cloud accounting among CAs, ultimately contributing to a better understanding of its adoption in the profession.