The impact of cloud computing technology on cloud accounting adoption and financial management of businesses

Abstract This study examines how cloud computing technologies affect the adoption of cloud accounting and the resulting impact on corporate financial management. It addresses unresolved literature issues concerning security, privacy, legal compliance, and system integration, aiming for a unified theoretical and empirical understanding of cloud-based accounting. Employing Structural Equation Modeling (SEM) with AMOS software, the research analyzes data from 172 companies listed on Vietnam’s stock exchange. The conceptual framework integrates the Technology Acceptance Model (TAM), Resource-Based View (RBV), and Contingency Theory, exploring diverse factors influencing cloud accounting adoption and subsequent financial management performance. Results highlight system integration and security/privacy as significant motivators for adopting cloud accounting. Additionally, the study identifies cost-benefit analysis, system integration, and active cloud accounting usage as pivotal factors enhancing financial management outcomes. In contrast, legal compliance and generic cloud platforms (such as iCloud) display limited influence, reinforcing and extending existing research by empirically validating both strategic and operational impacts of cloud integration. The research contributes in three key ways. First, it integrates fragmented literature into a cohesive framework considering contextual, organizational, and technological factors. Second, it provides valuable empirical insights from an emerging market (Vietnam), enriching understanding of digital transformation in lesser-studied economic settings. Third, it clearly distinguishes generic from specialized cloud platforms, offering practical guidance for organizations evaluating cloud accounting investments. Practically, the findings suggest businesses prioritize robust security and effective system integration in cloud accounting implementations, complemented by rigorous cost-benefit evaluations. It also advises caution against depending on generic cloud services for specialized accounting needs, advocating for industry-specific solutions. Uniquely, this study adopts a comprehensive multi-theory approach, clarifying interactions between security, compliance, integration, cost considerations, and platform type, thus significantly advancing scholarly and practical understanding of cloud technology adoption.