CLOUD TECHNOLOGY ACCOUNTING AND FINANCIAL PERFORMANCE OF QUOTED OIL AND GAS COMPANIES IN RIVERS STATE.

Abstract

This study examined the influence of cloud technologies accounting on the financial performance of Oil and Gas companies in Rivers State. Cloud Technologies Accounting was considered from the perspective of three cloud ERP delivery models: private, public, and community Cloud Technologies Accounting. Financial performance on the other hand was measured in terms of net profit margin, return on assets, and return on equity. Top Management Support (TMS) was used as the contextual factor. The study adopts the descriptive survey research design. Data were collected through primary and secondary sources and analyzed, using multiple linear regression techniques. Following the analysis, results showed that private, public, and community Cloud Technologies Accounting significantly associated positively with all three indicators of financial performances of oil and gas companies in Rivers State. Results only confirmed Top Management Support as a significant moderator in the relationship between community Cloud Technologies Accounting and the financial performance of oil and gas companies in Rivers State, thus confirming the findings of previous research that TMS is critical in increasing technology integration into business for better overall firm performance. We, therefore, conclude that Cloud Technologies Accounting allows businesses to improve their customer service while simultaneously lowering their operating expenses and expanding their profit margins. Consequently, we recommended that the government should workout and implement actionable programs aimed at reducing the cost of internet data and accessories to act as an incentive to many organizations in keying into the new technology. The government should also provide high-quality data centers to motivate companies to invest in Cloud Technologies Accounting, among other recommendations.