THE EXPANSION OF ACCOUNTING TO THE CLOUD

Abstract

The world today is witnessing an explosion of technologies that are remodelling our entire reality. The traditional way of thinking in the business field has shifted towards a new IT breakthrough: cloud computing. The cloud paradigm has emerged as a natural step in the evolution of the internet and has captivated everyone’s attention. The accounting profession itself has found a mean to optimize its activity through cloud-based applications. By reviewing the latest and most relevant studies and practitioners’ reports, this paper is focused on the implications of cloud accounting, as the fusion between cloud technologies and accounting. We addressed this innovative topic through a business-oriented approach and we brought forward a new accounting model that might revolutionize the economic landscape.