Impact of Awareness and Adoption of Cloud Based Accounting Software Among Accounting Practitioners in Sri Lanka

Abstract

The effect of cloud-based accounting software (CBAS) on accounting professionals in Sri Lanka (with specific reference to CBAS awareness, user-based control of data, user-acceptance, operational efficiency and capital outlay) was examined to determine the critical factors affecting its adoption and the nature of the associated impact. A quantitative approach was used, with the aid of a structured questionnaire sent via google form to 110 SIA practitioners. This research followed positivistic philosophy with deductive method using Python in Google Colab for data analysis which included descriptive statistic, Pearson correlation and multiple regression analysis. Existing models, TAM and TPB, were used to develop the instrument and inform the hypotheses. The results revealed that perceived usefulness, perceived ease of use, awareness, concerns about data security and the readiness of the organization did not significantly predict the adoption of CBAS. Moreover, adoption did not appear to affect user acceptance or operational performance. Nevertheless, market capitalization was found to have a positive effect on user acceptance, so the size of the organization may be important for the success of adoption. There was also a negative relationship between the adoption of CBAS and debt-assets ratio, which suggested the possibility of enhancement in financial structure. It was found that organisational determinants matter more than individual mind-set in the implementation of CBAS, implying that there are both firm- and policy-level implications for the encouragement of DT.