Public Auditable Secure Cloud Data Storage -Myassignmenthelp.Com

Question: Discuss About The Public Auditable Secure Cloud Data Storage? Answer: Introduction Organizations are expanding in terms of departments and employees and are assigned with various work genres. Cloud based accounting information system that aids business organizations to meet organizational goals and needs. Small and large business organizations can benefit from the use of technological tool of cloud computing (Algari, 2017). Organizations can compete with their rivals by using modified business applications. Internet services assist the employees of business organizations to improve the productivity and trade value through cloud based AIS. The objective of the study is to understand the change of operation in business organizations in terms of adding cloud based accounting information systems (AIS). Overview of Cloud Computing Cloud computing is known for revolutionizing the IT industry and provides a model for enacting conducive, network access towards the common meld of services, storage, servers, networks, and applications to facilitate ease in management of data. It allows customers to omit human interaction by taking data from proper software as per ones convenience. Clients can connect to various platforms by using the dedicated software installed in their digital devices connected to internet and is benefitting cloud based accounting information systems (Dillon, Wu, Chang, 2010). Pool based computing resources are configurable and signified for better operation to serve varied customers by using customer demand pattern (Wang, Ren, Lou, Li, 2010). Customers can rapidly avail data that can be required over any given point of time. Multi-tenancy approach entails cloud infrastructure with differed parameters for each of the customers and provide assistance to the cloud based accounting information sys tems. Cloud service providers promote their mesh of customized applications to the end customers, who can try it by accessing the internet (Leimeister, Bohm, Riedl Krcmar, 2010). Cloud infrastructure is complicated to understand from the viewpoint of a customer, as it is operated by optimizing diversified data. Client can attempt to develop their applications over the online platform to edit and modify it by allowing in-progress verifications. Clients have the facility to use IT infrastructure services with a personalized virtual machine that is different from multi tenancy process. This is due to the fact that it focuses on virtualization of distinguished infrastructure as a service cloud. MYOB is one of the accessible cloud based accounting information systems website, which offers various technology tools for its customers. MYOB has account edge, which is made for Macbook allowing clients to address tax obligations, meet BAS, GST reporting and accounts reconciliation. Client can check business indicators to ascertain the benefits and losses of the organization along with customize quotes, purchase orders and invoices through apple devices, timesheet management, payroll tax determination according to the state, leave super, and PAYG operation (MYOB Technology Pty Ltd., 2017). MYOB invest s large amount annually in research and development and secures all the data related to bank transactions. In addition, it also provides accountant-employee relation, updated ATO rules and online payments by paydirect online. SAASU is another example of Australian based accounting information systems, which helps customers with auto-invoicing, online payments, inventory management, live dashboard, auto bank feeds, cashflow forecast, well managed multicurrency, auto payroll and integration with add-ons (Saasu Pty Ltd., 2017). Challenges and Benefits Real-time account reporting is beneficial for the clients as compared to the conventional style of financial accounting, budget making, controllable and uncontrollable event periodic reporting (Bushman, Chen, Engel Smith, 2004). Modern scenario of financial reporting is based on the competitions that are faced by the companies due to advanced supply and demand ratio. It is necessary for companies to adopt cloud based AIS to pace up against the competing firms and address the problems quickly based on the market needs. Real-time accounting comprises enterprise architecture, application integration, business operation management and business intelligence through cloud based accounting information systems, which can be enacted through internet based gadgets. In recent times, the real-time approach narrates to the fastest link between computerized systems and input data. Managers can easily trigger the changes and find solution associated with corporate performance to spot the key dimen sion of investment opportunities to choose the better direction. Organizations can deduct the operating costs of capital expenditure of IT functions with the help of using cloud based accounting tools. Additionally, it is easy to be based on cloud infrastructure, as it is beneficial in comparison with other machines and software (Garrison, Kim Wakefield, 2012). It saves extra costs of the company by reducing the employment of IT professionals, who have significant expertise in accounting. Cloud based accounting information systems benefits organizations, as it helps in controlling the IT infrastructure by enhancing or reducing the parameters. Companies can easily teach using the technique of cloud based AIS within minimum time frame (Gupta, Seetharama Raj, 2013). This feature allows the organizational employees and clients opportunity to avail the cloud based AIS system from anywhere. Cloud based accounting information systems saves the strenuous work towards registering accounting information manually. It further allows organizational employees to focus on the other critical issues of the company. Cloud services require good speed internet connection to avail the data anywhere making it securer for unauthorized access. This helps the organizations to rely on the cloud database for any emergency situation of hard-disk failure, which result s in the overall degradation and loss of valuable data (Vishwanath Nagappan, 2010). Clients can manage their company data through reliable web based AIS, which dismisses the idea saving the data in portable hard-drives or thumb drive. It is easy to access all the financial data and recover companys important information even after facing issues. Cloud based AIS gives benefit by allowing protection to the office data, which has faced malware or spam issues. Companies can take support in any emergency situation, as the cloud based AIS provides services throughout the year. Supply chain is an integral part of the company that has direct link with the accounting system and facilitates the client to share important data with supply chain partners. Clients can share financial accounting data to the other business partners as well. Cloud based AIS has totally omitted the offshore activities that need physical presence of IT professional and auditors to partner countries (Takabi Joshi, 2017). Clients can easily track financial growth of globally spread international companies. Modern day online activities are burdened with cyber criminal and cloud based AIS assures that the there will be no manipulation or loss of financial data. Cloud based AIS strictly avoid the use of company financial data for any commercial purposes and provide better security in the long run. Challenges are noteworthy in the evolving pattern of cloud computing AIS including privacy and security issues. There are risks of misusing the financial data of the organization, as a single technical mistake can abuse it (Takabi Joshi, 2017). Security and privacy can be on continuous risk, if organization and cloud service providers are not able to maintain authenticity at their sharing levels. Software as a service enable providers a set of differed functionalities for different companies and their security system has varied implications of enforcement services. Thus, varieties of integrated features suppor ts customer extensibility and acts as a challenge for cloud based AIS platforms. Customers can run, build and protect their applications but providers can isolate the workspaces and applications, which acts as a barrier to the service. Infrastructure, as a service provides authority to the client to secure their content, applications and systems, but it lacks the basic protection capabilities. Multi-tenancy can raise issues for the clients, as it shares customer data even after using it in a secured manner. Recommendation Clients can strictly report violation and abuse of their financial data in the case of any mistrust, which help them to omit the challenges of the cloud based AIS. Homogeneity in resource virtualization should be avoided in case of building cloud services for different clients. The global operation of cloud based AIS asserts varied responses in case of compliance issues with multiple jurisdictions. It needs to be mandatorily monitored by the organization. Privacy and security of multi domain framework of cloud computing is based on policy improvements as per the organizational needs. Client identification and password authentication can be improved to shield sensitive financial information. Cloud based AIS should take an account of its dynamic collaboration during interoperation process, as it leads to security breaches. Cloud service providers need to pay heed to trust based framework creation for better financial operation of the business entities. Privacy is the key concern for bu siness organizations and client should have the authority access information for audit, traceback and access control. Risk analysis, service attestation, penetration testing and previous life-cycle models are the prime components to reassess for the business organizations satisfaction. Cloud based accounting information systems need to strengthen the cyberinsurance industry, though it is one of the complicated prospect due to the global attributes. Strict usage policy norms and cryptographic approaches are necessary to defend the financial data of business organizations. Privacy and security management teams of cloud computing AIS should act more responsible to assess the success factors its adoption. There are certain aspects of accepting the growth factors for advanced form of accounting standards. Thus, organizations experience substantial improvement in performing tasks, business operations, productivity and business expansion (Oliviera, Thomas Espadanal, 2014). Country specific limitations and future possibilities can vary from the others, but business organizations need to comprehend the information processing capability and its requirements. Conclusion The research objective of the study is to understand the deep changes in accounting standards of business organizations due to the addition of cloud b AIS. Primitive ways of financial accounting is changing with the change of market demand and promotional factors to achieve business goals and governance. Nowadays, business organizations have to compete constantly with other organizations, which have made it necessary to track the productivity on a daily basis to improve the efficiency. It is easy to keep track of tax, payroll, and growth, stock, and other financial reports through a cloud based platform from any gadgets, which has internet connection. References Algari, A 2017, The Impact of cloud based information systems on organization's performance, Journal of Computer Engineering, vol. 19, no. 2, pp. 42-46 Bushman, R, Chen, Qi, Engel, E, Smith, A 2004, Financial accounting information, organizational complexity and corporate governance systems. 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MYOB Technology Pty Ltd., 2017, AccountEdge, MYOB, viewed 26 January 2017, https://www.myob.com/au/accounting-software/accountedge Oliviera, T, Thomas, M Espadanal, M 2014 Assessing the determinants of cloud computing adoption: An analysis of the manufacturing and services sectors, Information Management, vol. 51, no. 5, pp. 497-510. Saasu Pty Ltd., 2017, $125 Billion+ transactions by 80,000 users since 2000, SAASU, viewed 26 September 2017, https://www.saasu.com/ Takabi, H Joshi, J, B, D 2017, Security and privacy challenges in cloud computing environments,IEEE Security and Privacy Magazine, pp. 24-31. Vishwanath, K.V. Nagappan, N 2010, Characterizing cloud computing hardware reliability, In Proceedings of the 1st ACM symposium on Cloud computing, pp. 193-204. Wang, C, Ren, K, Lou, W Li, J 2010, Toward publicly auditable secure cloud data storage services, IEEE Network, pp. 19-24.