The paper 'Challenges and Benefits of Cloud Computing" is an outstanding example of a finance and accounting coursework. In the service industries, Accounting was among the first to take advantage of the information technology advancements. This was the use of general electric utilized computers to organize and process accounting aspects. In the 1970’ s the accounting information systems arose and managed to revolutionize the key accounting task handling in the companies (Marston, et al. 2011). In the past, recent years providers of accounting services have been actively exhibiting low user's activity level and high provider's activity level.
Nowadays, the development of the contemporary cloud-based accounting software has improved the accounting services by the way they have been repositioned as interactive services such that the user's activity level is increased (Marston, et al. 2011). Increased ability to access internet-based systems service providers and customers have close cooperation in real-time irrespective of the geographical distance. In order to get an in-depth understanding of this development in the accounting sector, this paper aims to analyze сlоud bаsеd ассоunting infоrmаtiоn systеms (AIS) adoption of the business environment. Cloud computing Cloud computing alludes to the storage of data and servers in secure data centers where users can be able to access them through internet browsers.
The implication is that there is no need to have servers in businesses, with information certainly retrieved through. In general cloud computing acts as a service model which provides information technology that is able to offer accessible computing ability over a network at a reduced cost. In the business, sector agility is provided by cloud where the use of intensive computer analytics is enhanced to facilitate the exchange of real-time data and increased interactivity.
Cloud computing has also become a source of innovation where it has been identified to take place between two stages (Apte, & Mason, 1995). The first one is cloud adoption, and the other one is innovation with cloud resources. Innovations in cloud computing address issues involving IT operations business procedures and market innovation. Initially, cloud adoption objective is based on cost efficiency where the business is continuing to become more experienced with technology (ComPUtING, 2011). However, as time goes aspects such as business procedures and IT innovation are becoming a major advantage of the cloud.
In the case of accounting business procedures, cloud-based information technology systems are seen to outsource a wider variety of task (Willcocks, et al. 2012). This implies that business that is highly disaggregated their processes are likely to give customers a chance to allocate duties in a more effective way. The most exciting aspect of the accounting industry as far as cloud computing is concerned is the fact that through cloud accounting is an easy concept to understand (Willcocks, Venters, & Whitley, 2013).
This implies that all the accounting systems will be placed in a private space online where it becomes accessible through the internet or a source of remote connection. Challenges and benefits The cloud accounting system is crucial in the operation of the accounting process, but like any other system, there are both problems and benefits that emanate from its use. These aspects are discussed in details below.
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