Impact of Accounting Software among SMEs Accountants in Oman
Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The pap...
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| Format: | Article |
| Language: | English |
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Academic Research and Publishing UG
2020-06-01
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| Series: | Financial Markets, Institutions and Risks |
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| Online Access: | https://armgpublishing.com/wp-content/uploads/2020/07/3-1.pdf |
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| author | Mohammed Muneerali Thottoli |
| author_facet | Mohammed Muneerali Thottoli |
| author_sort | Mohammed Muneerali Thottoli |
| collection | DOAJ |
| description | Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities. |
| format | Article |
| id | doaj-art-e22aff26a647481db71d0b6e8f9d63ab |
| institution | OA Journals |
| issn | 2521-1250 2521-1242 |
| language | English |
| publishDate | 2020-06-01 |
| publisher | Academic Research and Publishing UG |
| record_format | Article |
| series | Financial Markets, Institutions and Risks |
| spelling | doaj-art-e22aff26a647481db71d0b6e8f9d63ab2025-08-20T02:15:42ZengAcademic Research and Publishing UGFinancial Markets, Institutions and Risks2521-12502521-12422020-06-0142253310.21272/fmir.4(2).25-33.2020Impact of Accounting Software among SMEs Accountants in OmanMohammed Muneerali Thottoli0https://orcid.org/0000-0003-2195-7226University of Nizwa, College of Economics, Management & Information Systems, OmanFinancial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities.https://armgpublishing.com/wp-content/uploads/2020/07/3-1.pdfgeneralized accounting softwareaccountingaccountantsmall and medium enterprisesinternational financial reporting standards (ifrs)oman |
| spellingShingle | Mohammed Muneerali Thottoli Impact of Accounting Software among SMEs Accountants in Oman Financial Markets, Institutions and Risks generalized accounting software accounting accountant small and medium enterprises international financial reporting standards (ifrs) oman |
| title | Impact of Accounting Software among SMEs Accountants in Oman |
| title_full | Impact of Accounting Software among SMEs Accountants in Oman |
| title_fullStr | Impact of Accounting Software among SMEs Accountants in Oman |
| title_full_unstemmed | Impact of Accounting Software among SMEs Accountants in Oman |
| title_short | Impact of Accounting Software among SMEs Accountants in Oman |
| title_sort | impact of accounting software among smes accountants in oman |
| topic | generalized accounting software accounting accountant small and medium enterprises international financial reporting standards (ifrs) oman |
| url | https://armgpublishing.com/wp-content/uploads/2020/07/3-1.pdf |
| work_keys_str_mv | AT mohammedmuneeralithottoli impactofaccountingsoftwareamongsmesaccountantsinoman |