Can accounting information system benefit from cloud computing: the case of Saudi arabia

In today’s changing world and business turmoil, chief financial officers need to understand the financial risks and rewards of new technologies. One of these technologies is cloud computing with its delivery models in which computational resources are offered as a service. It became an opportunity for companies albeit some obstacles. Companies should be prepared for the impact of the change on their accounting and financial systems. The cost structure is going to be reformulated together with pricing policies which will impact profitability. Traditional IT model is different from cloud computing and consequently operating and capital expenditure requirements are different. Accounting as information system with its crucial characteristic of the need to provide information in the right time can find its life jacket in cloud computing. Cloud offerings will provide new ways for consumers and suppliers to purchase and offer IT services. This paper is trying to clarify and analyze the pros and cons of cloud computing on accounting information system with a reference to Saudi Arabia.