The Internet of Things, commonly abbreviated as loT, refers to the connection of devices (other than typical devices such as computers and smartphones) to the Internet. Cars, kitchen appliances, and even heart monitors can all be connected through the loT. And as the loT grows in the next few years, more devices will join that list. The loT is already having a significant impact in areas such as health, retail, manufacturing and also finance.

*Required: *

Briefly discuss the impact of loT accounting practices in organizations. As far as possible, give an example for each of your answers. (Total: 15 marks)