EFFECT OF CLOUD ACCOUNTING COSTS ON FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

Abstract

The study determined the effect of cloud accounting cost on financial performance of Nigerian deposit banks. Specifically, the study ascertained; the relationship between server maintenance cost and return on assets of Nigerian deposit money banks; the relationship between software acquisition cost and return on assets of Nigerian deposit money banks, and the relationship between cost of training and return on assets of Nigerian deposit money banks. Ex-Post Facto research was employed by the study. A sampled of five deposit money banks was used for the study. Data were extracted from the annual accounts of the sampled banks from 2012 to 2022. The data were analyzed and tested with multiple regression analysis via E-view 9.0. The results revealed that server maintenance cost and cost of training have positive effect on financial performance but this effect were not significant while software acquisition cost has negative and insignificant effect on financial performance of deposit money banks in Nigeria. Based on the findings, the study recommended among others that there is a compelling need for the government to enact a law to protect cloud data and ensure its seamless utilization. Reduce the cost of data and accessories this will act as incentive to many organizations to key into the new technology.