Reference no: EM13711127
You are required to write a report to the key decision-makers within the business on whether Cloud Accounting will become commonplace in the future and is, therefore, appropriate for their business.
Your report, written in plain English, should be a formal document which outlines Cloud accounting, reports research on implications for the firm and who will need to be consulted or communicated with in regard to Cloud accounting. The format of your report should include:
- cover letter (letter of transmittal)
- cover page
- table of contents
- executive summary
- summary and conclusions
Marks will be awarded for the comprehensiveness of your research, your awareness of the contemporary business environment, insightfulness in style and timing of communications to clients and any other stakeholders you identify and report format and structure.
Case study information
You are the practice manager for an accounting firm which specialises in business advice for mostly small businesses. Currently there are three partners, four associates, four newly graduated accountants and administrative staff. At the recent business planning meeting, a discussion item on the agenda related to Cloud Accounting. MYOB had sent marketing literature which focused on the benefits for your firm if clients could be encouraged to use MYOB Cloud Accounting.
One of partners believed there were many benefits and that Cloud Accounting in general was 'the way of the future'. She argued that the accountants and partners should speak with all their clients about investing in Cloud technologies. Another partner was very much against the idea as it would involve costs for clients and he was not convinced there were enough benefits to justify the costs. The meeting members could not reach agreement, and eventually admitted that their knowledge of Cloud Accounting was limited and they needed more information. You are commissioned to write a report on Cloud Accounting, with a focus on whether it is viable for the firm to work with their clients to make it an integral part of their working relationship. As the partners see time as limited, they have asked you to include a section on communications strategy for introducing this change, to be used if you recommend the adoption of a Cloud strategy.
You should define and give adequate description of Cloud Accounting. Include a discussion of the benefits and problems with Cloud Accounting and information on costs. The partners may find it useful to read examples of the use of Cloud in other accounting firms.