Explain traditional accounting system

Assignment Help Accounting Basics

Reference no: EM131429134

Task -

You work in an accounting firm as a business advisor. The partners of the firm are conservative and advise their clients to use traditional server based accounting information systems (AIS). The firm's clients are small to medium sized businesses, in a variety of industries including retail and service. Recently a number of your clients have approached you about moving from a traditional accounting system (in-house server based or computer based) to a cloud based accounting system. You mention this trend to the senior partner. The senior partner has now asked you to provide more information on cloud accounting systems, in the form of a 750-1,000 word business report that can be distributed to both the partners and clients. You have been asked to do some research and address the following:

Define and explain the differences between a cloud based accounting system and a traditional accounting system.
Identify potential risks or limitations in adopting a cloud based accounting system
Based on your findings make a recommendation outlining which size and type of businesses would benefit from moving to a cloud based AIS.

Within your business report, present the differences between cloud based and traditional AIS in a table.

Your research could include such sources as the professional body articles as well as text books and peer reviewed academic journals. Vendor websites are not considered to be appropriate sources of information for this task. Use APA referencing in your report.

Rationale

This assessment task has been designed to develop your ability to interpret and evaluate the concepts covered in Topic 1. More specifically it seeks to assess your ability to:

understand and apply foundation principles relating to computerised information systems in contemporary organisations.

Reference no: EM131429134

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len1429134

3/16/2017 3:43:21 AM

Assignments must be submitted through Turnitin. You need to include your name, student ID and page number in the header or footer of every page of the assignment. Further details about the presentation of your submission are provided in Appendix 1. For this assessment you are required to use APA referencing to acknowledge the sources that you have used. In a table within the In a table within the business report, with reference to an extensive range of sources beyond the subject resources clearly distinguishes the differences between cloud based and traditional AIS.

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