'The cloud' is referred to as a new emerging technology for storing data as most organisations take on more and more technology to run their day-to-day operations. Below is a video which describes what 'the cloud' is and how it all works.
With 'the cloud' the burden of storage and maintanance is lost from the individual or company and instead lies with the provider who stores the data in their own data centres. Access to the data is available online and may be accessed anywhere by anyone allowed, therefore increasing efficiency.
The benefits of 'the cloud' it seems is that it may be a more cost effective way of storing data as the organisation is not required to maintain an IT infrastucture and IT assets, however it may not be as simple as 'the cloud' does not come free and there are costs to have access to 'the cloud'.
Bertolicci (2012) highlighs a recent example of 'the cloud' as Apple's new iCloud, which can back up files automatically to users iPhones, iPods, iPads and Macs all at the same time. Further Apple offer free services and have low cost options for additionally storage. Similarly Mircosoft developed SkyDrive and offers free storage for its users for up to 25GB.
While 'the cloud' is becoming an IT must-have for many organisations, there are still issues which are to be addressed with cloud computing. PWC (2011) highlight several issues of data ownership, taxation, legislation and regulation, governance and licensing which organisations may face when implementing cloud technologies. Additionally for accounting purposes, little informatino exisits about the complience of the cloud to International Financial Reporting Strandards.
Further Reading:
Anonymous. (2011). What is the cloud? News Media and the Law, 35(4). Retrieved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/911782905
Bertolucci, J. (2012). Life in the cloud. The Saturday Evening Post, 284(1). Retrieved from: http://search.proquest.com.ezp01.library.qut.edu.au/docview/916011904/abstract
PriceWaterhouseCoopers. (2011). How can we build trust in the cloud to drive business growth? Retrieved from: http://www.pwc.com.au/assurance/publications/risk-controls/cloud/index.htm
Truitt, M. (2009). Editorial: Computing in the cloud. Information Technology and Libraries, 28(3). Retireved from http://search.proquest.com.ezp01.library.qut.edu.au/docview/215828451
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