Designing A Cloud-Based Accounting Information System For Real-Time Financial Analysis

Abstract

The digitalization of financial procedures has revolutionized the analogue accounting and a transition to real time and cloud-based systems has made the financial transparency and decision making feasible. Based on the scalability and user-friendliness of an architectural platform “in the cloud,” this study presents and assesses a prototype Cloud-Based Accounting Information System (CBAIS) that would help overcome the weaknesses of traditional ERP paradigms by including fundamental capabilities (such as management of an accounting ledger, ensuring transactions, tracking compliance) within a flexible cloud- Heuristically-oriented and based on the three-tier model, the system was implemented on the AWS infrastructure and tested over the synthetic dataset, which mimicked 100 diverse transactions in accounting. Results showed a high accuracy of report generation with a range of deviation of about +-1% and low latency (average of 149.87 milliseconds) which is an indication that the system has the capability of handling real-time analysis of finance. The platform’s dashboard interface made it easy to access the reports and visualizations in an intuitive manner, while the security measures such as AES-256 encryption and role-based access control ensured that the integrity of the data and auditability were guaranteed. This research helps underscore the possibilities of cloud-native AIS to provide outfits such as the small and medium-sized enterprises with cost-effective, scalable, and responsive means for financial oversight. The conclusion of the study provides recommendations for incorporating the live APIs and the AI-powered features in future cycles of development, with an additional emphasis on the necessity of real-world pilot testing to better understand the users’ experience and the system’s robustness.