Issues and Challenges in Intelligent Computing Techniques

Question: Discuss about the Issues and Challenges in Intelligent Computing Techniques. Answer: Introduction The Accounting Information System is classified as an outline of gathering, proceeding and keeping of both accounting and economic information. It has been found that the decision makers for making vital decisions regarding the successful running of the business require all these information. The AIS (Accounting Information System) is an accounting system that is mainly operated by the help of the computers. The AIS primarily assists the decision makers in trailing the actions that are associated with the accounting procedure and also with the reserves of information technology. According to Sundem et al. (2014), the traditional system of calculating accounting is classified as the sharing of the overhead expenses of the manufacturing to the goods which are produced. Moreover, this has been noted that the particular accounting method is also termed as Conventional Accounting System. Opined to Cheng Cao (2014), the traditional system of accounting apportions the costs that are indirect in nature and are related to the costs of the factory for manufacturing certain goods on the basis of the volume. The measurement based on the volume includes numbers of products that are produced, machine hours (production) and labor hours (direct). On the other hand, as per Oliveira et al. (2014), the cloud based system of accounting is defined as the particular transactions that take place through internet. Moreover, Sah, Shakya Dhungana (2014) noted that the particular practice does not require any type of software fitting within the computer systems for running the cloud based system of accounting effectively. Furthermore, it has been identified that the organizations, which deal with cloud computing generally sell the services of accounting and serve several remote servers and functions. Comparison between Cloud Based System of Accounting and Traditional System of Accounting It has been found that there are various similarities between the Cloud based system of accounting and traditional system of accounting. These include both the systems focus on the core competencies and calculate the accounting accurately. However, though both the systems have a few similarities, there is more dissimilarity between the two. These include: Cloud Based System of Accounting Traditional System of Accounting The cloud based system of accounting is defined as the particular transactions that take place through internet. The traditional system of calculating accounting is classified as the sharing of the overhead expenses of the manufacturing to the goods which are produced. The particular system of accounting has lower costs of upfront. The particular system of accounting has higher costs of upfront (Zhang Ni, 2016). The cloud based system of accounting has lower operating expenses. The traditional system of accounting has higher operating expenses. Moreover, the specified accounting system helps in the process of implementation rapidly. Whereas, in case of traditional accounting system, the process of implementation takes longer time. The rapid resource elasticity and the resource pooling of the cloud based accounting system make the capacity of the infrastructure highly elastic (Sah, Shakya Dhungana, 2014). Thus, it can be said that the cloud based system of accounting has high scalability. On the other hand, the traditional system of accounting is less scalable. It has been found that the cloud based system of accounting mainly puts emphasis on the core competencies. On the other hand, the traditional system of accounting does not put focus on the core competencies. The cloud based system of accounting has easy access to the advanced technology. However, the traditional system of accounting does not have easy access to the advanced technology. In addition to these, the cloud based system of accounting helps in providing upgrades and updates rapidly. Here, the traditional accounting system does not assist in providing upgrades and updates rapidly. Furthermore, the cloud based system of accounting helps in improving the mobility, usability and accessibility (Helo et al., 2014). Nonetheless, the traditional accounting system does not guide the firm in the process of improvement of the accessibility, usability and mobility. It has been found that the integration can be made easily along with the services of cloud. However, in the system of traditional accounting, it has been noted that the process of integration cannot be made easily with the help of the particular system. Moreover, the cloud based accounting system helps in improving the availability of the service and also guides the way for recovering the disaster. The traditional system of accounting is unable to recover the disaster and is also incapable to develop the system. The main drawback of implementation of cloud based accounting system within a firm is the huge subscription costs. The expenses like subscription cost do not take place in case of traditional accounting system (Greef et al., 2013). There is presence of risks regarding security and performance in case of cloud based accounting system. The traditional system of accounting is free from any kind of security and performance risks. Here, there is presence of integration and customization limitations. In traditional system, there are no integration and customization limitations. The other risks that are related to cloud based accounting system are compliance risks and strategic risks. In traditional system of accounting there is absence of any kind of compliance risks and strategic risks. Limitations of Implementing Cloud Based System of Accounting The primary disadvantages of implementing cloud based system of accounting within a firm include: The expenses of implementing cloud based accounting system are more due to presence of subscription expenses. The cloud based accounting system is comprised of various risks like performance risks, security risks, compliance risks and strategic risks (Mital et al., 2015). There are limitations regarding functionality, integration, customization and strategy of hybrid deployment. The cloud based accounting system faces SLA issues. Conclusion It can be concluded that both the above discussed strategies have merits and demerits. Therefore, any firm should implement the accounting strategy based on its size and type of businesses. It can be said that the businesses having small budget, having staffs who work tenuously, cannot provide themselves with sufficient security and the firms that intend to evade any kind of potential physical mishaps with technology can implement cloud-based system for better running. References Cheng, E., Cao, L. (2014). Establishing the Gross Domestic Product of Welfare: A Major Revision of GDP for a Better Accounting System.World Review of Political Economy,5(4), 439-454. Greef, A., Healy, J., Gall, M., Chape, X., Akerblom, P., Swaminathan, M. (2013).U.S. Patent Application No. 13/767,817. Helo, P., Suorsa, M., Hao, Y., Anussornnitisarn, P. (2014). Toward a cloud-based manufacturing execution system for distributed manufacturing.Computers in Industry,65(4), 646-656. Mital, M., Pani, A. K., Damodaran, S., Ramesh, R. (2015). 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