Cloud Computing in Accounting and Digital Financial Reporting in Albania

Abstract

Recent technological changes have had a great impact on the accounting and financial environment all over the world. Albania has also been affected by these changes and developments such as the widespread use of interactive accounting information packages, financial web report­ing, and cloud computing. This paper tries to analyze the current situation of accounting and financial reporting in Albania and the impact that web reporting and cloud computing have had on the simplification of account­ing procedures. Several tools such as online reporting and Extensive Busi­ness Reporting language are presented and their impact on the use of the accounting systems and other financial reporting instruments in Albania is explained. This paper finds that cloud computing has been used extensively by the private companies offering accounting information systems in Alba­nia whereas Extensive Business Reporting language and the IFRS Taxonomy have not attained great recognition in Albania.

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