Questions On Cloud Accounting Strategy

Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.

Accounting information systems (AIS) are useful instruments businesses use in the management of business activities. The kind of system installed depends on the size, nature of a business and the objectives managers have. One common objective though is that to minimise cost and increase

In today's time the accounting and book keeping ranges from the old way of paper and pen to extremely large accounting data base systems for the major companies and organizations around the world; although either system could be used but

Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Instructor’s Solutions Manual

As long as this world have businesses and buying and selling within company to company accounting and Accounting Information Systems (AIS) will play a big role in financial management and decision making. The degree of value and how usable an AIS is depending on if the system is custom, outsourced or boxed. In this paper I will talk about just that. You will find out if the company should keep, change, modify or outsource and what will be the advantages and disadvantages of doing so. Analyze the need for changing to a new system and the potential benefits and risks associated with this. Identify three (3) advantages

• It is designed to enable you to become an informed preparer and user of

The accounting profession has implemented technology in countless ways. The IRS has encouraged electric filing (e-filing) for submitting tax returns (Whittenburg & Gill, 2017). Updated information for tax rates, amounts for personal and dependency exemptions, Generally Accepted Accounting Principles (GAAP) rules, are currently available via the World Wide Web. Many programs, such as Excel, act as financial calculators and perform financial formulas fast and error free. Accounting software programs are coded to use algorithms in synthesizing information, organizing information, and displaying information for users. As technology advances, increasingly sophisticated algorithms and functions become available. In my company, information from every department’s programs is imported into the software program that the finance department uses. This automated feature enables each department to employ the technology that achieves its efficacy. Additionally, computer technology maximizes available resources. Real-time data and financials are now obtainable (accountex). With automated functions, a series of buttons can spit out the desired information in the desired format.

Cloud computing can be defined as an internet based computing model that can be used to provide services to multiple users, simultaneously, as and when requested. The Common wealth Bank of Australia (CBA) included cloud service models in their IT infrastructure quite recently, and has released in public the details of this project. The white paper released in public provides the details of the cloud model implemented by the organization, along with the factors that had driven the project and the benefits that have been availed from the project. This article is aimed at providing a detailed description of infrastructure that has been adapted by the Common Wealth Bank. Discussions have also been made on the challenges that were

The objective of Cloud Computing allows users to benefit from technologies without profound understanding, or skill, its target is to cut cost to customers. It should also help users to concentrate on their Corporation instead of being inhibited by Information Processing Complications.

Ultimately, these figures translate to profitability thereby fulfilling one of the primary goals of business which is to generate profit (Aljabre, 168). One of the major reasons behind the choice of using cloud computing and incorporating it into the basic framework of business transaction is efficiency. Cloud computing utilizes minimal renewable resources that cold the business a very insignificant amount compared to the returns it will retain in the form of profits and customer satisfaction. Cloud computing enables the business to streamline its IT operations thereby eliminating any wasteful channels that drain resources and increase the cost of operations. The concept of cloud computing render it as a n internet based operation that provides efficient and effective handling for the employees of a business through improved accessibility and limited space consumption (Gorelik 109). Every other merit that cloud computing affords business is down to the effectiveness or efficiency its use brings upon the business entity which will eventually reflect on the profitability of the business.

Access to vast amounts of data is creating paradigm shifts in business. What is the impact on accounting? Manual tasks are being automated at a fast pace. Technological advancements, along with the transformation of buying habits to more web-based purchasing is creating opportunities to observe elements of human behavior not previously tracked. Enhanced data tracking creates a sea of data elements available for harvesting. Companies are forming strategies using correlation analysis of behavioral patterns extracted from web activities. Executives are analyzing data elements relevant to their business to improve the efficacy of strategic decisions. As part of the development of stronger data analytics, executives see the choice of an Accounting Information System (AIS) as a critical component to execution. Data analytics, if accurate and relevant to the business, can be an effective tool to enhance performance in most business aspects, including accounting, operations, internal audit, external audit, and forensic accounting. The future opportunities in accounting are in forward-looking, analytical roles.

In order to keep up with the times most organizations of today are finding themselves consistently coming up with different ways to keep accounting information personal as well as accurate. Providing good accounting information not only leads to better decisions but also increase in profit. Even two different organizations that provide a similar product or service have completely different ways of reporting their accounting information. Throughout this essay, Team B will compare and contrast many issues involved in the reporting process of two different organizations that both provide a similar product, the

Cloud Accounting Company (CAC) is providing Accounting software in a Cloud environment as Software as a Service (SaaS)

Businesses have become more competitive, consumers are more informed, and technology has changed the way the world communicates. Information technology (IT) and the resulting ‘information age’ are continuously impacting every facet of accounting. (Bagranoff, Simkin, & Strand-Norman, 2006) This paper will examine how accounting information systems (AIS) are bringing about changes within the accounting profession. Additionally, a variety of technologies and how they affect accounting practices at Exclusively Yours Salon will be discussed.

Accounting information system is increasingly important to contemporary organisations, can help to increase the flexibility, keep the necessary accounting records, save money and time on accounting record functions. Xero is an accounting report software development company, it established to provide beautiful accounting software. Drays Co is a company, sells medical equipment, which desires to adopt Xero accounting software. However Rose, who is the accountant of Dray Co, has difficulties to adopt Xero accounting systems. There are three specific issues are: risks of the cloud, systems development life cycle and outwardly organised systems. These issues will be discussed separately in the following content.