Computing technologies are very popular nowadays. Out of them Cloud computing is getting more attention by organizations. Cloud computing is an emerging technology of 21st Century. It is an advancement of its previous generation technologies like Cluster, Grid Computing etc. It has been cited as the fifth utility; here services are available on demand. According to recent IDC (International Data Corporation) data, expenditure on public IT cloud services will reach $107 billion in 2017. In the present paper, focus will be on presenting the various aspects related to Cloud Computing like its characteristics, models, services. Some objectives will also be enlisted. There is strong relationship between cloud computing and education, some part of the paper will also discuss this issue. At the last, some latest technologies will also be discussed, which will throw some light on future trends of Cloud Computing.