Accounting Information - Article Review

First part gives an overview of the cloud computing and accounting information system; second part analyses the benefits and challenges of the accounting information system's move to the cloud; and third part gives the recommendations on key success factors of the adoption.

The need for sharing of resources, having an online backup storage system as well as providing an online efficient environment for businesses gave rise to the discovery of the clouds. Cloud computing is thus the latest technology in both the technological sector and the business sector. It refers to Cloud computing for example, provides an online platform upon which individuals and businesses can store and retrieve their information effectively when connected to the internet. It thus saves on the costs that could have otherwise been used for the purchase of additional storage devices. There is no worries of how the online documents will open up because cloud computing comes with online document reading software such as Google docs. The

A company had a beginning balance in retained earnings of $44,500. It had net income of $7,500 and paid out cash dividends of $6,000 in the current period. The ending balance in retained earnings equals:

Nowadays, many organizations adopting cloud based accounting information system (AIS) to handle their business. It helps them accomplish their business goals faster and better. In this research paper, it will firstly explain what the cloud computing is and its functions. Then it will introduce FreshBooks-an cloud accounting software. Thirdly, it will analysis the challenges and benefits of cloud based AIS in detail. And lastly, it will give some recommendations of success factors for cloud based AIS adoption through some real and success facts.

The purpose and goal behind researching the income statements and balance sheets then calculating the ratios is mainly to help creditors and investors make their decisions easier and faster. The way we are presenting our research results helps the investors and creditors make the decision which of the companies is more worthy to invest in or loan money too without taking a risk, and lowering the chances that they will be disappointed by the results of their investment, or in the creditors case they can be almost certain the company they are loaning the money to would be worthy enough of paying the money back without a hassle.

Cloud computing offers many advantages to both end users and businesses of all sizes. The advantages of cloud

The Financial Accounting Standards Board (FASB) writes the code that directs certified public accountants and accounting professionals in non-governmental environments. On occasions, the FASB proposes changes to those accounting standards. This process includes exposure drafts. The issuance of exposure drafts is for individual and business comments. The input from the respondents in comment letters is analyzed and considered by the board in the deliberations regarding the issue. "Proposed Accounting Standards Update – Presentation of Financial Statements (Topic 205): Reporting Discontinued Operations," published on April 2, 2013, discusses changing the reports to be more useful and reduce costs for preparers. This report will discuss the exposure draft in depth and the comment letters accordingly.

Cloud computing allows organizations to utilize virtual recourses; like virtual machines, storage, and applications. Rather than building and maintaining

This research paper tackles the issues that faces Cloud Computing today and gives the experts and industry’s point of view on the matter. The aspects explored are the significant industry questions that have risen about the use of Cloud Computing, business value, organization impact, adaptability, limitations, initial cost of implementation, and the severe business security risks

QuickBooks and Sage 50 Accounting are both great options for small business accounting. These programs help manage business finances which can drastically save time that may have been spent creating Excel spreadsheets and more. However, while both programs are sufficient for small businesses, the programs differ based on what they can offer your company.

When this happen or the cash flow is stable it means that this company can be solvent and will meet its cash needs.

A little business is an undertaking that is typically little in scale as far as number of representatives and/or deals incomes. An expansive lion's share of the organizations in the United State are little business. These organizations are normally enrolled as sole proprietor, which means one individual claims it, or association, which means 2 or more individuals possesses the business.

CPA firms, whose focus is in the provision of tax services to the customers and businesses have to improve their efficiency and effectiveness of the workflows as a way of meeting the expectations of their clients. The firms deal with the pressure of management of fees, and staffing resources in the wake of busy tax seasons. The firms that are future focused should turn to the cloud technology for digitization and automation of their tax preparation procedures as a way of defining their maximum productivity while ensuring that they keep at pace with the quality needs of their clients (Blair-Stanek, 2015).

Modern accounting systems have become the foundation from which the modern organization can rely and depend upon to maintain a strong efficient strategy that will help the organization grow. The modern accounting systems embraces the old accounting practices that have been used for hundreds of years and builds upon that platform to give modern organizations control over the finances. There must be set in place internal controls to keep the company assets from being stolen and that is why modern accounting systems utilizes many internal controls with the organization. The modern accounting system is one of the most valuable assets that a modern organization has in its possession because modern accounting systems make better use of the

Ahmed, A., McAnally, M., Rasmussen, S. & Weaver, C. (2010). How costly is the sarbanes oxley act? Evidence on the effects of the act on corporate profitability. Journal of Corporate Finance, 16, 352-369.