These transactions are recorded in the general journal first, and typically include more information than is included in the accounting ledger; the balance of each account is not included. As in the accounting ledger, however, the credits and debits listed in the general journal must total zero.
Grid Computing is a form of distributed system with non-interactive workloads. Utility Computing is a business model where computing resources are metered. Cloud Computing is a form of utility computing that allows developers to develop, deploy and run applications.
A Simple Description. In its most simple description, cloud computing is taking services (cloud services) and moving them outside an organizations firewall on shared systems. Applications and services are accessed via the Web, instead of your hard drive.