This document discusses the rise of cloud computing and its implications. It begins by defining disruptive technology and explaining how cloud computing disrupted traditional software models. It then outlines the types of software that practices can run in the cloud, including backups, accounting, office suites, websites, tax software, and more. It addresses concerns about cloud accounting like security, compliance and lock-in. Finally, it discusses how the cloud allows accountants to access client data remotely, correct mistakes easily, and build new revenue streams through advisory services. Major companies adopting cloud solutions are cited as evidence it has gone mainstream.