Accounting Information Systems for Innovation: Examples of Cloud Computing and Blockchain

Accounting Information
Systems/ACC2002

TABLE OF CONTENTS
Introduction................................................................................................................................3
Overview of examples................................................................................................................3
Description of AIS used in the cited examples..........................................................................4
Cloud computing....................................................................................................................4
Blockchain..............................................................................................................................5
Recommendations......................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

INTRODUCTION
The present study aims to evaluate the use of accounting information system for innovation
by describing and analysis practical examples for the same. Identified examples will be
supported by its challenges and benefits of implications for the assessment of the considered
situation. On the basis of the identified situation, recommendations will be provided to the
businesses for making innovation in their operational activities through the application of an
accounting information system.
OVERVIEW OF EXAMPLES
An accounting information system is also known as AIS that relates information technology
to accounting principles and tasks. It is a technical means of recording and accessing
information regarding the accounting actions that happens in an industry or business.
Documentation and connected actions which are mostly completed with paper and pencils are
finished with sophisticated software and efficient technology. The techniques of doing
accounting may modify, but the basics of the profession will always be the same (Langfield-
Smith, 2017).
Accounting systems expands due to the information technology that helps to adopts business
naturally. Cloud technology is the current technology that took place. A cloud system gives
liberty to the individuals implementing the Accounting information system in the business. In
this technology, consumer hold on to safety procedures and mobility allows suppleness of
actions for workers. A business gets benefits from enhanced output by a cloud configuration
for AIS, and it might produce opportunities for business in nature. The individuals in an
association accountable for infrastructure should be knowledgeable on the new options
available, and moreover, they should also know how they can provide an advantage to the
company (Prasad, and Green, 2015).
Disruptive technologies similar to Blockchain is the core of cryptocurrencies for example
Bitcoin that are creating waves, and the major reason behind is its confrontation to cheat and
aptitude to record dealings without the help of a middleman.
For instance, businesses are using third-party (bank or payment gateway) for accepting cash
from a customer. Other than this the transactions of blockchain technology, take place
immediately and moreover are digitally recorded without the help of a bank or payment