Cloudonomics: Transforming Accounting Practices in India through Cloud Innovation

Abstract

Cloud accounting has reshaped the field of accounting, helped organisations streamline their processes, and enhanced data access and security along with improving efficiency and also providing cost benefits. In this study we attempt to understand the novel concept of cloud accounting, how it differs from traditional accounting, possible security issues and threats and the present scenario of cloud accounting in India. It can be concluded that cloud accounting though possessing some challenges is a better alternative to traditional accounting