of doing accounting work entirely using computers and then internet got introduced which gavenew way to accounting as well. In a similar manner, latest trend have been introduced in themarket which must be adopted by the companies in order to carry out the financial work in amore effective manner (Horngren and et.al., 2012). However, it must be analyzed that whetherthe latest trend is effective for the company or not. For that aspect, critical analyses of the latesttrends have been done as follows:1.Cloud Accounting: As it is known that cloud computing has become the basic necessityof the company for carrying out any operations ranging from data storage to connectivityand even for reducing business costs. Similarly, accounting is also a part of company’soperation and thus, it is also lined up for getting into cloud. Therefore, a new trend hasbeen added in accounting is cloud accounting (Beatty and Liao, 2014). This isincreasingly used for working and enabling easy access to world-class infrastructurewithout spending huge amount on it. However, heavy cost is involved in providingtraining to the executives. As it required high end professionals who can carry out thisaccounting work in an efficient manner. Moreover, this is the biggest trend which isgoing around and every company has to follow this trend in order to stay ahead in themarket. Moreover, this is user-friendly software which can be cited as reason for itssurging popularity. 2.Automation: Automation in accounting is a trend which can save a great amount of timeto businesses when it comes to accounting. This trend is slowly eliminating the need ofmanual data entry and helps in saving a large amount of time in production. The majorrole of automation is to reduce the burden of manual bookkeeping and utilize that time indealing with real time accosting issues (Weygandt and et.al., 2010). However, such kindof trends cut offs the job which is not appropriate. Moreover, automation would require aperson who would be observing it all the time and this would add extra cost to thecompany. 3.Social Media Strategy: These days social media is widely used for creating a presence ofthe business online. It is also used to reach a large number of people around the world.Similarly, social media strategy is also used for accounting and is gaining popularity thisyear and business owners are becoming active on social media. This trend in accountingis very beneficial for accounting firms and also for clients who can gather information

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