Cloud Computing's Impact on Accounting and the World

1194 Words5 Pages
Technology is definitely the driving force in our world today. All it takes is one look around a room to see someone either on a tablet or smartphone, but how does technology impact business and what trends are there in the information technology field? Currently, cloud computing is one of the most talked about trends in the IT field and for good reason. The cloud gives unprecedented amount of the way a business is run from accounting systems all the way to process control. What is even greater is the impact it has on the global economy. The world is being revolutionized by cloud computing. “Google and “Amazon” were the original firms that provided cloud computing services. “Google and “Amazon’s” analysts said that cloud computing was “on-demand access to virtual information technology resources” (Budriene, Zalieckaite, 2012, p.119). The cloud is simple, it allows businesses to access IT resources over the Internet. Budriene and Zalieckaite (2012), says “Cloud computing is a new conceptual paradigm for business which combines into a single environment not only applications, architecture and business models, but a variety of professionals for performance of common business tasks in the Internet medium,” (p. 120). The global technology research and consulting firm “Gartner” reports that in 2013 cloud computing services are estimated to be worth 150.1 billion dollars. This number has tripled since 2009 when cloud computing services equaled 56.3 billion dollars. The 56.3 billion dollars reported for 2009 is 21.3 percent more than was recorded in 2008. This data shows that cloud computing services are becoming an increasingly profitable and growing field. According to a survey by “Gartner”, 81 percent of company managers see differen... ... middle of paper ... ...ort of evened the playing field for small to medium businesses around the world with the ability to acquire information technologies equal to what big businesses have. The effect of cloud computing has also been felt in the field of accounting where financial reports with real time numbers can be seen by the internal managers and external stockholders which allows for amazing flexibility. References Budrienė, D., & Zalieckaitė, L. (2012). CLOUD COMPUTING APPLICATION IN SMALL AND MEDIUM-SIZED ENTERPRISES. Issues Of Business & Law, 4199-130. doi:10.520/ibl.2012.11 Christauskas, C., & Miseviciene, R. (2012). Cloud -- Computing Based Accounting for Small to Medium Sized Business. Engineering Economics, 23(1), 14-21. Heenetigala, K., & Armstrong, A. (2010). The Use of Internet Reporting for Small Business. Journal Of Business Systems, Governance & Ethics, 4(4), 41-52.

    More about Cloud Computing's Impact on Accounting and the World

      Open Document