Internet-based accounting software is a recent trend in business computing. Major software firms such as Oracle, SAP, and NetSuite are running their core products on the Internet using cloud computing. NetSuite is one of the most popular small business Internet-based accounting systems.
Go to NetSuite Inc.'s Web site at www.netsuite.com. Read about the product from the site, and prepare a memo to management, defining Internet-based accounting. Also, outline the advantages and disadvantages of Internet-based accounting compared to running software on a company's internal computer network.