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Fernando Catacora
Fernando Catacora

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What a CPA is doing in this Community? - Part II

This is the second part of an article I previously posted to motivate more accountants and CPAs participation in this Community and after one year as an AWS Community Builder. This article has been written using some accounting specialized terms in order to motivate other peers to participate and apply to be part of this great professional community.

1. Debits, Credits 0's, 1's
Accounting knowledge is based on the foundations of debits and credits which composed can create all the concepts, techniques, theories and rules from simple to very complex levels for companies and our profession.

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Computers are similar in this regard since the binary language of 0's and 1's are the mathematical concepts from where all the hardware and software elements are built, v.g. a bit, byte, kilobyte, megabyte, gigabyte, terabyte, petabyte, and so on so forth.

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Both above concepts are really interesting to analyze for further exploration by comparing how similar they are. We can confirm computers and accounting foundations are extremely similar and both can fit and complement each other like lego pieces.

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2. Tangible vs Intangible
When you participate as a Community Builder it is not the tangible gifts and goodies you get that are valuable, it is the intangible value of connections, networking with other peers and knowledge you get from folks all over the world. Anybody participating in this community can guarantee you that the knowledge you get is the most valuable part of your involvement. If you are an accountant you may agree intangibles is still a gray area for the accounting profession where one of the many challenges is the valuation of this elements of the financial statements.

As a participant for the builders community the real value you get is from the intangible part of your tenure. There are so many folks willing to help and teach you without asking you anything in return. Just imagine having a consultant and technical department available 24x7x365 for free, that is one of the intangibles you get for being part of the AWS Community Builder.

3. IFAC Educational Guidelines
IFAC is the premiere worldwide accounting organization, from www.ifac.org:

"We are the global organization for the accountancy profession, comprising 180 member and associate organizations in 135 countries and jurisdictions, representing more than 3 million professional accountants."

For many years IFAC has issued Educational Standards and the latest update in the area of technology has been expanded:

https://www.ifac.org/system/files/publications/files/IAESB-IES-2-Techical-Competence.pdf

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Cloud computing is inserted under above learning outcomes. For example, CPAs should learn all foundational concepts from cloud such as AWS elements of Computing, Storage, Security, Networking and many others. As an example the typical internal controls theories as we learned in college are not valid anymore because of the dramatic impact of cloud computing in all business activities.

4. Cloud Computing for Cloud Accounting

There is no question all major ERPs are running in the cloud, it is not just the accounting system in the cloud but also all applications around accounting as a main repository for the corporate data. Companies are not willing to trade confidentiality, public access and other advantages to corporate assets and information is the most valuable asset.

In this context, data is valuable as long as it is flowing in the right cloud computing infrastructure and AWS is the most comprehensive offering in the cloud. As of the time this is published an according to AWS official information, there are more than 200 services offered by AWS Cloud infrastructure and that may be growing in the next few years as technology is getting more complex.

https://aws.amazon.com/es/what-is-aws/

From an accountant perspective my final recommendations is that you have to get involved an acknowledge the impact cloud computing is creating in our profession. These days is not just about how debits and credits are flowing through an application but also the cloud computing facilities used by your company. As part of your own personal journey, getting involved and apply to be part of this community is a huge step to help others to promote the education and development for future CPAs.

Fernando Catacora
AWS Community Builder
REDContable.com Founder
fcatacora@redcontable.com

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