The Impact of Cloud Based Accounting System on the Performance of Selected Deposit Money Banks in Nigeria

Abstract

The purpose of this study was to evaluate the performance of money deposit institutions in Nigeria with respect to the cloud-based accounting system. Nonetheless, survey research was used as the methodology for this investigation. The study's population consisted of 38 deposit money banks in Nigeria, and 34 sample institutions were chosen by Taro Yamene. Only 20 banks were chosen since several were difficult to get to because of distance and red tape. Each bank received 15 questionnaires, totaling 300 copies, 279 of which were fully completed and easily accessible for usage. The structured questionnaire served as the study's major source of data. Simple tables were used for descriptive analysis, while ordinary least squares (OLS) and analysis of variance (ANOVA) were used for inferential analysis. The Cronbach's Alpha test of reliability was used to test the data. The findings showed that R was 56.20%, indicating a very robust model; additionally, 55.70% of R Square demonstrated that all variance in deposit money banks' performance can be attributed to the cloud-based accounting system. The study found that the performance of Nigerian deposit money banks and the cloud-based accounting system are positively correlated.