Conduct your own research on common cloud accounting packages. Try Xero, MYOB Essentials and Intuit (Quickbooks online) websites for more information.

1. How might a business ensure that its records are accurately transferred from one accounting system to another?

1. Cloud-based packages store the business' records on a server, outside of the business. How might a business' internal operating procedures need to be amended to suit this?

1. Cloud accounting systems are subject to continuous updates and improvements by their developers. What benefits might this bring to the business? How might these updates negatively impact the business?

1. Compare two cloud accounting systems. From the information available on the company websites, how do their reporting capabilities differ? From your own accounting knowledge, what are some useful reports that the package should include, to allow easier preparation of statutory returns, such as BAS?

1. Most cloud accounting packages are accompanied by detailed "Help" systems, usually integrated with the software. How might this integrated help system actually interfere with a business' own policies and procedures for staff? How might a business avoid these issues?