Environmental Science and Information Application Technology

Question: Discuss about the Environmental Science and Information Application Technology. Answer: Introduction In recent years, traditional server based accounting information systems are used by most of the business organizations. Now, more and more accounting firms are turning to cloud based accounting systems in order to make their business practices/functions more effective and accurate. Along with this, this research paper would be helpful to represent the major differences between cloud based accounting systems and traditional accounting systems. This paper would also be valuable to recognize probable risks/limitations of a cloud based accounting system. Furthermore, the paper would also be useful to explain the size and type of businesses that would be benefit from a cloud based accounting system. Differences between Cloud Based AIS and Traditional Based AIS Both, cloud based AIS and traditional based AIS are important accounting software. They have their own importance for the business organizations. But, there are some major differences between cloud based AIS and traditional based AIS. For case, the major difference is that, cloud based AIS are more flexible than traditional AIS. With the help of a cloud based AIS, business firms can access accounting data at any place or device. Apart from this, the second difference is that, traditional AIS have need of hard drives to store the accounting data. But, there is no need of hard drives in the cloud based AIS. It is because of cloud based AIS use the cloud to hoard the accounting data financial information and also make them accessible from anywhere if needed. In a cloud based AIS, accounting data can be obtained from anywhere only with the help of an Internet connection. On the other hand, the other major difference is that, cloud based AIS are effective to update financial information automatically. They are proficient to present financial reporting and information in real-time. Cloud based AIS are also capable to handle multi-transactions more accurately. But, traditional AIS are unable to provide these features to the business organizations. Business firms have need of experts to update the accounting software and information in the case of traditional AIS. Along with this, traditional accounting software/systems are expensive than cloud AIS. They are also unable to provide data back-up to the business owners. Moreover, traditional AIS are incompetent to perform multi-functions on different platforms. Cloud based AIS are proficient to perform multi-programs on different platforms. In this way, the advanced features of cloud based accounting system make them differ from the traditional accounting systems. Risks/Limitations Related to a Cloud Based Accounting System It is true that, currently, cloud based AIS is in demand. The popularity of cloud AIS is increasing on the regular basis. But, there are some major risks or limitations that an accounting firm may face in adopting a cloud based AIS. For case, cloud based AIS require a server or Internet connection to perform accounting functions accurately. But, in the situation of server down, business firm would not be able to access accounting data if it require on the urgent basis. This is the major risk that is associated with cloud based AIS. Along with this, with cloud AIS, an organization stores its confidential data on cloud; so members of that organization may access the data anywhere or any device. But, this thing is dangerous for the data privacy and security of the organization. It is because of hackers may hack all the confidential data information from the server. So, security and privacy is also other major risk related to cloud based accounting system. Moreover, restrictions of the applications and loss recovery of sensitive data are the other potential risks or limitations related to a cloud based accounting system. Businesses Size Would be Benefited from a Cloud Based AIS Small business organizations would be benefited from a cloud based AIS. It is because of small size business firms have small budgets and they can use cloud accounting systems at lower costs. Along with this, small-size business firms who are unable to provide themselves adequate security may use cloud based accounting systems to maintain their data privacy as well as confidentiality in an effective and an appropriate manner. References Turner, L. Weickgenannt, A.B. (2016). Accounting Information Systems: The Processes and Controls. USA: John Wiley Sons. Simkin, M.G., Norman, C.S. Rose, J. M. (2014). Core Concepts of Accounting Information Systems. USA: John Wiley Sons. Chan, D. (2015). Environmental Science and Information Application Technology: Proceedings of the 2014 5th International Conference on Environmental Science and Information Application Technology (ESIAT 2014), Hong Kong, November 7-8, 2014. UK: CRC Press. Scott, C. J. (2017). College Accounting: A Career Approach. Australia: Cengage Learning. Pompon, R. (2016). IT Security Risk Control Management: An Audit Preparation Plan. USA: Apress. Nixon, R. (2015). Remaining Relevant: The Future of the Accounting Profession. Australia: Fontaine Press Pty Ltd.