What is cloud computing? What types of new services can financial accountants offer their clients given that cloud computing permits real-time access to clients’ books? Discuss. (7 marks) [Length: 200 words]
Requirement 2: (10 marks)
a) Explain how big data can support fair value accounting. (5 marks) [Length: 125 words] b) Discuss how big data can enhance the ability of accountants to understand and communicate the value of tangible and intangible assets (5 marks) [Length: 125 words] Requirement 3: 10 marks [Length: 250 words]
Write a brief introduction to “blockchain” technology and discuss how blockchain will affect the frequency and format of financial reporting.
Requirement 4: (10 marks) [Length 250 words] How should professional accounting bodies such as CPA Australia and Chartered Accountants Australia and New Zealand adapt their professional programs to equip their members with the necessary skills to increase their relevance inside organisations in the internet-related technological environment?