Cloud Computing and Accounting: Some Issues with Special Reference to India

Abstract

Cloud computing and accounting have emerged as paradigm shift in the field of computing and accounting. Cloud computing is an internet-based computing system where services are delivered to the clients through internet and can be accessed from anywhere at any time with speed and convenience. In cloud accounting, on the other hand, the accounting functions are performed over the internet using cloud technology. Due to a number of advantages of cloud technology most importantly with respect to its flexibility, accessibility and scalability (i.e., cost effectiveness), it has been witnessing growing market footing worldwide in the corporate and social environment in recent times and most countries attaching importance on heir preparedness for the adoption and growth of cloud computing services. The application of cloud computing and accounting has also gained remarkable popularity in our country in the last few years and expanded across industries and firm sizes. Both national and international IT players have entered into the business of rendering cloud services in the country as well as government of our country is also implementing this technology to expand its various scheme and initiatives. In the present paper different issues related to cloud computing and accounting such as concepts of cloud computing and accounting, different models of cloud computing; and advantages and problems associated with cloud technology have been discussed in a nutshell. A modest attempt also has been made in the study to evaluate present scenario of application of cloud technology in the country and delineate the role that the government has to be played to accelerate the growth of the emerging sector and keeps the country moving towards cloud growth path.