Cloud Accounting among SMEs in Nigeria: Benefits and Challenges

Okafor, V. I.; Odunze, C. O.; Ibiam, O.

Cloud Accounting among SMEs in Nigeria: Benefits and Challenges

Authors: Okafor, Victor Ikechukwu, Odunze, Chrysogonus Ohanu, Ibiam, Oti

Journal: Contemporary Journal of Management (CJM), ISSN 2766-1431

Citation: CJM 3(1): 44-51, 2021-05-10.

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Type: Original Research

Abstract

Cloud storage is one of the innovations of 21st century that promotes privacy, security and easy access to information. It entails the use of accounting system in the internet. Cloud computing in accounting is an important tool of modern-day accounting and it has been practiced in countries more adapted to the rapidly changing technology. Small and Medium Scale Enterprises (SMEs) are a very important entity in any economy; they play a vital role in the development of a country’s economy. The benefits of Cloud accounting to SMEs creates opportunity for information access anywhere and anytime as well creates opportunity for them to easily acquire loan and business subsidies for their business.

Keywords

Cloud accounting, SMEs, Cloud Computing, Cloud Storage, Nigeria

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Published by AIR JOURNALS. Open Access under CC BY 4.0.