The Concept of Cloud Accounting and its Adoption in Bangladesh

This paper discusses the theoretical concepts behind cloud accounting and its adoption in a developing country like Bangladesh. The field of accounting has improved significantly with the introduction of cloud computing. In cloud accounting, a client outsources the accounting services of the entity using the service of a third party vendor. There are three models of cloud accounting namely IaaS Infrastructure as a Service , PaaS Platform as a Service and SaaS Software as a Service . Cloud accounting is more cost effective, secure and flexible and, provides larger storage compared to traditional accounting. Although the number of clients using cloud accounting is increasing rapidly in the world, the developed countries are far ahead from developing countries in terms of using cloud services. Bangladesh, one of the N 11 countries, need to adopt the cloud accounting system for encouraging startups, generating employment and protecting the environment. This study provides a framework that can be used for the adoption of cloud accounting in the business sector of Bangladesh. In order to build a digital Bangladesh, the government should take possible steps to popularize cloud accounting system in Bangladesh. Raihan Sobhan "The Concept of Cloud Accounting and its Adoption in Bangladesh" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd24031.pd