The paper 'Fletcher Tax Accountants Business - New Cloud Computing " is a good example of a finance and accounting case study. The new technology of cloud computing has captured the attention of a huge number of businesses and the corporate sector in offering a more reliable and less complex business management structure. The new technology arrangement of cloud computing has completely transformed the traditional practice of the business and corporate information and operational management. This report will present a critical review of some of the main aspects of cloud computing regarding accounting functions management.
In this scenario, this paper will discuss and analyze some of the main areas of the Fletcher Tax Accountants business new cloud computing business management systems application for the overall digitization of the customary business practices. In this scenario, this paper will investigate the issues surrounding cloud computing in particular within the Australian environment. SUMMARY The new technology-based arrangement of the cloud accounting is actually a mash-up of 2 main schemes and has been attaining extremely high attention and interest in current years. A lot of small businesses are currently adopting new web-based systems and tools to manage their business accounting requirements.
In the case of especially accounting software, that is some computer application that facilitates us by means of several structures of accounting processes. Additionally, this can be as straightforward as a small sales ledger application to whole means to a business level complete accounting package. Consequently, cloud computing-based accounting application is fundamentally a technique to run our small business accounts completely online without requiring offline data and information storage and software. As a result, there is no resident installation on our own computer as well as we are able to access our accounts from anywhere by means of an Internet connection.
This still means accessing our business accounting data by means of our Smartphone like that Blackberry or iPhone. Such huge facilities and applications of cloud computing have offered much better support to accounting business like our company. However, with the overall transformation of the traditional business practices to the new business arrangement we can have some problems and issues regarding effective working and handling of business as performed through the customary business practice (Walsh).
This report is also aimed to discuss and analyze some of these aspects and areas. CRITIQUE Establishment of IT technology and Cloud computing-based operating model for private or public business and organization is completely a dominant method to recognize cost savings, however merely if our businesses recognize precisely what the Cloud Computing technology is replacing. In this regard, the Cloud Computing technology is a new and more enhanced step-forward to traditional SaaS (software as a service). Rather than hosting the user and their information/data on a specifically established server, the application host frequently has numerous servers in numerous locations, as well as a user is able to in fact carry out operations on diverse computers at each time they call.
The unlucky truth is that the majority of corporations have effectively established IT cost management systems however a small number of them have some foundation in real use. In simple words, we are able to assertively articulate that our IT bill imitates how a great deal or little we make use of something?
Conventional techniques and methods to IT chargeback combined the net IT cost and assigning it proportionally to business units foundational upon on server count, headcount or a number of extra replacements intended for assigning real cost. This technique (occasionally affectionately referred to like ‘ peanut butter' we extend it around) has the advantage in its ease, however, cannot be permitted to continue as we move in the direction of Cloud operating models (Houghton).
Houghton, James. Accounting for the Cloud. 19 August 2010. 10 January 2011
Mudge, J Craig. CLOUD COMPUTING: Opportunities and Challenges for Australia. Melbourne, Victoria: The Australian Academy of Technological Sciences and Engineering (ATSE), 2010.
Smith, William. Accounting Applications And Cloud Hosting: Some Benefits. 28 May 2010. 10 January 2011
Walsh, Matthew. What Is Cloud Accounting? 29 November 2010. 10 January 2011