CLOUD ACCOUNTING COST AND FINANCIAL ACCOMPLISHMENT OF FIRMS IN INDIA

Abstract

The research delved into the intriguing relationship between the financial accomplishment of
Nigerian manufacturing enterprises and the costs associated with cloud accounting. Employing an ex post
facto research approach and utilizing panel data analyses of public financial statements and accounts of
manufacturing firms traded on the Nigerian Stock Exchange over a substantial nine- year period (2009-
2018), the study randomly selected six manufacturing companies to participate. The investigation employed
the sophisticated Random Effects regression technique to analyse the data. The research findings were
striking, revealing a significant negative influence of maintenance costs on the return on equity of the
chosen manufacturing enterprises in Nigeria. The research observed that even a mere 1% increase in
maintenance costs would lead to a noteworthy 0.06% decrease in return on equity. These findings
emphasized the critical link between cloud accounting costs and organizational accomplishment in the
manufacturing sector. The research further underscored that the costs associated with cloud accounting
could pose obstacles to the accomplishment of manufacturing companies. As a result, the study concluded
that a successful cost management system is imperative for manufacturing businesses to achieve sustained
profitability, highlighting the need for prudent financial strategies in the face of evolving technological
advancements in the accounting domain.