Academic journal article Journal of Accountancy

Are You Ready to Do Business on the Internet?

Academic journal article Journal of Accountancy

Are You Ready to Do Business on the Internet?

Article excerpt

The Internet holds great commercial promise for industry, not-for-profit organizations, government and CPA firms. But how ready is your organization for such a move? This checklist is designed to help answer that question.

OPEN FOR BUSINESS ON THE INTERNET

** How will the Internet open your target market?

** Which aspects of your organization will be able to take advantage of the Internet? Which will not?

** Does your organization have the resources to extend its business beyond its current geographical boundaries?

** Is your organization prepared to "go global"? Be sure to consider

* The probable effect on accounting requirements, which differ from nation to nation.

* Tax issues--from a multinational approach to the need to meet a specific nation's tax laws.

* Import and export requirements.

* How the cultural differences in a foreign country would affect the business--from marketing to human resources.

* Inventory and logistics infrastructure.

* Foreign currency transactions, translations and risks.

SECURITY

** Do you have a security, system (called a "firewall") to protect your network from intruders seeking to steal or corrupt your data? …

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